Oil prices slide after Trump agrees to conditional two-week Iran ceasefire

Author: bbc.comPublished on: April 8, 2026Country: United States

PoliticsBusiness & Economy

Oil prices slide after Trump agrees to conditional two-week Iran ceasefire

Global oil prices fell sharply after President Donald Trump announced a two-week ceasefire between the US and Iran, contingent on vessels being allowed to move through the Strait of Hormuz. The price of Brent crude dropped about 15.9% to $92.30 a barrel. However, prices remain higher than before the conflict began on February 28. Trump threatened severe consequences if a deal was not reached by a specified deadline.

Stay informed with NewsBoulevard

Get the latest news summaries delivered to your inbox

Related News

PDP demands probe over alleged land, cash gifts to INEC officials

PoliticsNigeria

olufemiajasa•22m ago

PDP demands probe over alleged land, cash gifts to INEC officials

The Peoples Democratic Party (PDP) has called for an investigation into allegations that senior officials of the Independent National Electoral Commission (INEC) received land and cash gifts from a powerful minister in President Bola Tinubu's cabinet. The PDP expressed concerns about the independence of INEC, warning that these allegations could undermine public trust in the electoral system. The party also demanded that the INEC chairman clarify these allegations, which could impact the perception of the commission's integrity.

Netanyahu says US-Iran ceasefire ‘does not include Lebanon’

PoliticsIsrael

Al Jazeera Staff•23m ago

Netanyahu says US-Iran ceasefire ‘does not include Lebanon’

Prime Minister Benjamin Netanyahu's office announced that Israel supports the US decision to suspend strikes against Iran for two weeks, but stated that the ceasefire 'does not include Lebanon'. Netanyahu mentioned that the US is committed to ensuring that Iran no longer poses a nuclear, missile, or terror threat. This statement follows Pakistani Prime Minister Shehbaz Sharif's announcement that an immediate ceasefire has been agreed upon, including for Lebanon.

ADC: Crisis deepens as third faction emerges

PoliticsNigeria

olufemiajasa•1h ago

ADC: Crisis deepens as third faction emerges

A new faction of the African Democratic Congress (ADC), loyal to its 2023 presidential candidate Dumebi Kachikwu, has emerged and supports INEC's decision to withdraw recognition of the David Mark-led leadership. This faction, led by Kingsley Temitope, disowned Nafiu Bala Gombe, stating he did not emerge through a credible process. The group also accused former National Chairman Ralph Nwosu of attempting to transfer the party to non-members.

Stay Updated with NewsBoulevard

Subscribe to our newsletter for the latest news summaries delivered to your inbox

Learn more