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Oil prices plunge below $100 after Iran agrees to safe passage through Strait of Hormuz during ceasefire

Strategic angle: The U.S.-Iran ceasefire leads to a significant drop in oil prices, impacting global markets.

Editorial Staff · April 8, 2026 · 1 min read

Oil prices fall below $100 per barrel.

Iran agrees to safe passage through the Strait of Hormuz.

Ceasefire negotiated by President Trump with Iran.