{"id":44558,"date":"2026-04-08T07:30:59","date_gmt":"2026-04-08T07:30:59","guid":{"rendered":"https:\/\/foreignnewstoday.com\/?p=44558"},"modified":"2026-04-08T07:30:59","modified_gmt":"2026-04-08T07:30:59","slug":"oil-prices-fall-sharply-after-trump-announces-two-week-iran-war-ceasefire-money-news","status":"publish","type":"post","link":"https:\/\/foreignnewstoday.com\/?p=44558","title":{"rendered":"Oil prices fall sharply after Trump announces two-week Iran war ceasefire | Money News"},"content":{"rendered":"


\n<\/p>\n

\n

Oil prices have fallen sharply and stock markets have soared on news of a two-week ceasefire between the US, Israel and Iran.<\/p>\n

Oil has dropped roughly 14%, falling below $100 to $94 for a barrel of benchmark Brent crude.<\/p>\n

Iran war latest:<\/strong> Trump declares ‘big day for world peace’<\/a><\/strong><\/p>\n

Not since the early days of the war has the price fallen so low. But it’s still far above pre-war levels – around $72 – as supply concerns remain.<\/p>\n

It’s also significantly above the $69 a barrel price of 2025.<\/p>\n

\n
<\/div>\n<\/div>\n

Particularly welcome for British households is the plummet in UK wholesale gas prices. They’ve dropped more than 18% to a low last seen on 2 March.<\/p>\n

Though, as with oil, at 110 pence per unit of gas, it’s still way above the 78 pence pre-war level.<\/p>\n

News from the Iranians of the reopening of the key oil and gas shipping lane, the Strait of Hormuz, is behind that price fall.<\/p>\n

Not all plain sailing <\/strong><\/p>\n

Now, however, is the scramble to recommence production and to get vessels moving.<\/p>\n

It will take time for powered-down oil and gas producers to reach pre-war output.<\/p>\n

And the refineries, which have been without crude product to turn into things like aviation fuel, will take time to receive, produce and ship oil and gas derivatives.<\/p>\n

Supply woes won’t speedily be unwound. Farmers will likely face elevated fertiliser prices, and petrol and diesel will be more expensive for weeks at least.<\/p>\n

These issues may prevent oil and gas prices from plummeting.<\/p>\n

The UK impact<\/strong><\/p>\n

And that’s where the impacts on the UK come in. Higher fossil fuel costs push prices up across the economy.<\/p>\n

Inflation has been forecast to rise but traders are rethinking by how much.<\/p>\n

At points in March, those traders had expected three interest rate hikes through 2026, which would bring the base rate to 4.5%.<\/p>\n

Now though, only one hike is priced in for September, anticipated to bring the base borrowing cost back up to 4%.<\/p>\n

Prior to the war, a series of cuts was widely forecast.<\/p>\n

For the first time in two weeks, a pound is buying $1.34, up from $1.32 yesterday.<\/p>\n

There’s been little change against the euro, with a pound still buying \u20ac1.14.<\/p>\n

<\/p>\n

<\/a><\/p>\n

Massive stock market rises<\/strong><\/p>\n

Meanwhile, stock markets are rallying.<\/p>\n

The UK’s top-flight FTSE 100 index, of most valuable companies on the London Stock Exchange, is up more than 2.3%.<\/p>\n

Flagship stock indexes of major Asian economies have posted huge rises.<\/p>\n

South Korea’s flagship stock index, the Kospi, is up nearly 7%.<\/p>\n

Japan’s Nikkei is up a massive 5.5%.<\/p>\n

Both were heavily reliant on Middle East imports and had suffered panic buying amid fears of shortages.<\/p>\n<\/p><\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oil prices have fallen sharply and stock markets have soared on news of a two-week ceasefire between the US, Israel and Iran. Oil has dropped roughly…<\/p>\n","protected":false},"author":1,"featured_media":44559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[30],"tags":[],"class_list":["post-44558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"_links":{"self":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/44558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44558"}],"version-history":[{"count":0,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/44558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/media\/44559"}],"wp:attachment":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}