HIGHECONOMICVERIFIED
Oil prices plunge 15% below $95 after Iran ceasefire — markets surge
·Global Markets
Oil prices cratered 15% falling below $95/barrel as the Iran-US ceasefire was announced. WTI fell from $112 to the $90s range. Stock futures surged. Treasury yields fell sharply. The energy shock that drove prices to $119 at peak has rapidly reversed.
Brent crude fell from $118 to below $95 in the immediate aftermath of the ceasefire announcement. WTI dropped from $112 to the $90s. Stock futures surged. Markets are pricing in the partial reopening of Hormuz and reduced strike risk. CNBC reported the ceasefire triggers market relief but no clear path to lasting peace.
oilmarketseconomyceasefire
Actor responses
Markets are reacting to the Hormuz reopening signals. Treasury Secretary observed the energy shock is reversing.
Iran welcomed the ceasefire and the reopening of Hormuz as a positive step toward de-escalation.
Sources