Oil drops below $100 following ceasefire announcement Oil prices have fallen sharply after Donald Trump announced a two-week ceasefire with Iran tied to reopening the Strait of Hormuz. Brent crude dropped $15.02, or 13.8 percent, to $94.
Live Blog Update| War on Iran
8 April 2026 09:30 BST
Oil prices have fallen sharply after Donald Trump announced a two-week ceasefire with Iran tied to reopening the Strait of Hormuz.
Brent crude dropped $15.02, or 13.8 percent, to $94.25 a barrel, while US benchmark WTI fell $17.43, or 15.4 percent, to $95.52. European diesel prices also declined steeply.
The main oil barrel indexes show a 15% average fall, while most markets worldwide, especially Asian markets, are opening up during early trading hours.
"It will take us years to repair the political and strategic damage that Netanyahu created," Lapid claimed, while Otzma Yehudit MK Zvika Fogel blames Trump for "wimping out."
From Netanyahu's left, Yair Lapid said the PM had 'failed diplomatically and strategically,' while Yair Golan said Israel's war objectives had not been achieved. From the far right, a Ben-Gvir MK wrote of Trump: 'Donald, you came out a duck!'
Israel says war on Lebanon continues despite Iran ceasefire The Israeli military says it will continue its war on Lebanon, stating that the ceasefire with Iran does not apply to the Lebanese front. Military spokesperson Colonel Avichay Ad