09:54 - 8.04.2026

---

April 8, Fineko/abc.az. Prices for oil of benchmark grades are decreasing  sharply in Wednesday's trading.

As of 09:40, at the ICE Futures Europe stock exchange, June’s Brent futures fell by $15.28 (13.98%) to $93.99 per barrel. Following the trading on April 7, the value of this contract fell by $0.50 (0.46%) to $109.27 per barrel.

By 09:40, at the New York Mercantile Exchange, May’s WTI futures dropped by $17.11 (15.15%) to $95.84 per barrel. The day before, following the trading, its price grew by $0.54 (0.48%) up to $112.95 per barrel.

The price reduction comes amid statements by the U.S. president about suspending strikes on Iran for two weeks in exchange for the full and immediate opening of the Strait of Hormuz. He added that Iran is taking similar steps.

Iranian Foreign Minister Abbas Araqchi announced the country's agreement to a cease-fire with the U.S. A statement issued on behalf of Iran's Supreme National Security Council notes that safe passage through the Strait of Hormuz is expected to be possible in the next two weeks in coordination with the country's Armed Forces and subject to technical limitations.

Earlier, Trump warned of serious consequences if Iran refuses to open the Strait of Hormuz.

According to the analyst of MST Marquee, even taking into account the announced truce, Iran may resort to threats to shipping in the Strait of Hormuz more often in the future, and the market will take into account the increased level of such risks.