Global oil prices dropped sharply by more than 15% while U.S. stock markets surged immediately after President Donald Trump announced a two-week ceasefire agreement with Iran.
On 8 Apr 2026 GMT+7, CNN reported that West Texas Intermediate (WTI) crude oil futures fell over 15% in after-hours trading to below $95 per barrel, or about 3,400 baht, reflecting temporarily eased supply concerns. Meanwhile, U.S. stock futures rose significantly, with Dow Jones futures jumping more than 900 points, or 1.95%, S&P 500 up 2.13%, and Nasdaq increasing 2.46%.
This latest development followed U.S. President Donald Trump's statement that the ceasefire agreement was reached less than two hours before his set deadline. A key condition is reopening shipping lanes in the Strait of Hormuz. The U.S. leader also revealed he received 10 proposals from Iran, viewing them as a foundation for further negotiations.
Previously, the Middle East conflict and closure of the Strait of Hormuz—an essential global oil shipping route—caused a major oil supply shock affecting about 12 to 15 million barrels per day. However, analysts see ongoing uncertainty as Iran stated it will continue controlling navigation in the Strait of Hormuz, potentially impacting economic and geopolitical balance long-term.
Energy experts noted that although a ceasefire is in place, the issue of reopening oil transport routes remains unclear and could continue influencing energy prices in the future.
Source: CNN