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Oil prices jump back up near US$100 a barrel on scepticism over fragile US-Iran ceasefire
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Advertisement World Oil prices jump back up near US$100 a barrel on scepticism over fragile US-Iran ceasefire There was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage. Click here to return to FAST Tap here to return to FAST FAST Oil prices skipped higher early Thursday (Apr 9), and Wall Street veered toward modest losses on scepticism over a fragile and muddled ceasefire deal between the US and Iran. That sent oil prices climbing back toward US$100 a barrel Thursday, reversing an earlier plunge on optimism over the temporary ceasefire agreement. The declines came one day after all three indices gained between 2.5 per cent and 3 per cent following US President Donald Trump's announcement of a two-week ceasefire with Iran late Tuesday. “(Oil) prices rebounded as fighting in the Middle East continued, and the ceasefire outlook deteriorated, keeping uncertainty around the Strait of Hormuz firmly in focus,” ING Bank analysts Ewa Manthey and Warren Patterson wrote in a note Thursday.
## Summary
Advertisement World Oil prices jump back up near US$100 a barrel on scepticism over fragile US-Iran ceasefire There was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage. Click here to return to FAST Tap here to return to FAST FAST Oil prices skipped higher early Thursday (Apr 9), and Wall Street veered toward modest losses on scepticism over a fragile and muddled ceasefire deal between the US and Iran. That sent oil prices climbing back toward US$100 a barrel Thursday, reversing an earlier plunge on optimism over the temporary ceasefire agreement. The declines came one day after all three indices gained between 2.5 per cent and 3 per cent following US President Donald Trump's announcement of a two-week ceasefire with Iran late Tuesday. “(Oil) prices rebounded as fighting in the Middle East continued, and the ceasefire outlook deteriorated, keeping uncertainty around the Strait of Hormuz firmly in focus,” ING Bank analysts Ewa Manthey and Warren Patterson wrote in a note Thursday.
## Article Content
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World
Oil prices jump back up near US$100 a barrel on scepticism over fragile US-Iran ceasefire
There was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.
People with vehicles queue to fill up fuel at a gas station amid the US-Israeli conflict with Iran, in Bangkok, Thailand, March 26, 2026. REUTERS/Athit Perawongmetha
09 Apr 2026 08:17PM
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Oil prices skipped higher early Thursday (Apr 9), and Wall Street veered toward modest losses on scepticism over a fragile and muddled
ceasefire deal between the US and Iran.
Crucially, there was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.
That sent oil prices climbing back toward US$100 a barrel Thursday, reversing an earlier plunge on optimism over the temporary ceasefire agreement. Benchmark US crude was 5.4 per cent higher on Thursday at US$99.44 a barrel. Brent crude, the international standard, rose 4.1 per cent to US$98.70 per barrel.
Futures for the S&P 500 and Nasdaq each slid 0.4 per cent before the opening bell, while futures for the Dow Jones Industrial Average dipped 0.5 per cent.
The declines came one day after all three indices gained between 2.5 per cent and 3 per cent following US President Donald Trump's announcement of a two-week ceasefire with Iran late Tuesday.
“(Oil) prices rebounded as fighting in the Middle East continued, and the ceasefire outlook deteriorated, keeping uncertainty around the Strait of Hormuz firmly in focus,” ING Bank analysts Ewa Manthey and Warren Patterson wrote in a note Thursday.
Talks to pursue a permanent end to the war could start in Pakistan on Saturday, and Vice President JD Vance is expected to lead the US delegation. Trump posted on his Truth Social media platform that the US military will remain in the region “until such time as the REAL AGREEMENT reached is fully complied with”.
Related:
Can Iran tax ships passing through Hormuz? Experts weigh in
What we know about the two-week truce between the US and Iran
Source: AP/gs
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---
## Expert Analysis
### Merits
N/A
### Areas for Consideration
N/A
### Implications
- Talks to pursue a permanent end to the war could start in Pakistan on Saturday, and Vice President JD Vance is expected to lead the US delegation.
- Trump posted on his Truth Social media platform that the US military will remain in the region “until such time as the REAL AGREEMENT reached is fully complied with”.
### Expert Commentary
This article covers iran, fast, per topics. Readability: Flesch-Kincaid grade 0.0. Word count: 564.
Advertisement World Oil prices jump back up near US$100 a barrel on scepticism over fragile US-Iran ceasefire There was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage. Click here to return to FAST Tap here to return to FAST FAST Oil prices skipped higher early Thursday (Apr 9), and Wall Street veered toward modest losses on scepticism over a fragile and muddled ceasefire deal between the US and Iran. That sent oil prices climbing back toward US$100 a barrel Thursday, reversing an earlier plunge on optimism over the temporary ceasefire agreement. The declines came one day after all three indices gained between 2.5 per cent and 3 per cent following US President Donald Trump's announcement of a two-week ceasefire with Iran late Tuesday. “(Oil) prices rebounded as fighting in the Middle East continued, and the ceasefire outlook deteriorated, keeping uncertainty around the Strait of Hormuz firmly in focus,” ING Bank analysts Ewa Manthey and Warren Patterson wrote in a note Thursday.
## Article Content
Advertisement
World
Oil prices jump back up near US$100 a barrel on scepticism over fragile US-Iran ceasefire
There was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.
People with vehicles queue to fill up fuel at a gas station amid the US-Israeli conflict with Iran, in Bangkok, Thailand, March 26, 2026. REUTERS/Athit Perawongmetha
09 Apr 2026 08:17PM
Bookmark
Bookmark
Share
Telegram
Set CNA as your preferred source on Google
Add CNA as a trusted source to help Google better understand and surface our content in search results.
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
Oil prices skipped higher early Thursday (Apr 9), and Wall Street veered toward modest losses on scepticism over a fragile and muddled
ceasefire deal between the US and Iran.
Crucially, there was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.
That sent oil prices climbing back toward US$100 a barrel Thursday, reversing an earlier plunge on optimism over the temporary ceasefire agreement. Benchmark US crude was 5.4 per cent higher on Thursday at US$99.44 a barrel. Brent crude, the international standard, rose 4.1 per cent to US$98.70 per barrel.
Futures for the S&P 500 and Nasdaq each slid 0.4 per cent before the opening bell, while futures for the Dow Jones Industrial Average dipped 0.5 per cent.
The declines came one day after all three indices gained between 2.5 per cent and 3 per cent following US President Donald Trump's announcement of a two-week ceasefire with Iran late Tuesday.
“(Oil) prices rebounded as fighting in the Middle East continued, and the ceasefire outlook deteriorated, keeping uncertainty around the Strait of Hormuz firmly in focus,” ING Bank analysts Ewa Manthey and Warren Patterson wrote in a note Thursday.
Talks to pursue a permanent end to the war could start in Pakistan on Saturday, and Vice President JD Vance is expected to lead the US delegation. Trump posted on his Truth Social media platform that the US military will remain in the region “until such time as the REAL AGREEMENT reached is fully complied with”.
Related:
Can Iran tax ships passing through Hormuz? Experts weigh in
What we know about the two-week truce between the US and Iran
Source: AP/gs
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Subscribe here
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Download here
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Join here
Related Topics
War on Iran
Strait of Hormuz
Advertisement
Also worth reading
Content is loading...
Advertisement
Expand to read the full story
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
---
## Expert Analysis
### Merits
N/A
### Areas for Consideration
N/A
### Implications
- Talks to pursue a permanent end to the war could start in Pakistan on Saturday, and Vice President JD Vance is expected to lead the US delegation.
- Trump posted on his Truth Social media platform that the US military will remain in the region “until such time as the REAL AGREEMENT reached is fully complied with”.
### Expert Commentary
This article covers iran, fast, per topics. Readability: Flesch-Kincaid grade 0.0. Word count: 564.
iran
fast
per
oil
cent
ceasefire
hormuz
week
