FLASH NEWS
Oil prices drop significantly in international markets
2026-04-17 09:33:39 / EKONOMI&SOCIALE
Oil prices have fallen as expectations rise for a lasting ceasefire between the United States and Iran from another round of talks expected to take place in Pakistan.
However, uncertainty remains high, as the Strait of Hormuz continues to be blocked, keeping the market under tension.
Brent crude rose 4.7% on Thursday, reaching near $98 a barrel, while West Texas Intermediate traded near $94 a barrel.
US President Donald Trump has maintained an optimistic stance on the possibility of a long-term ceasefire, saying Iran had accepted several long-discussed conditions, including the opening of the Strait of Hormuz. However, Tehran has not publicly confirmed these claims.
According to officials, some Gulf Arab and European leaders estimate that a peace deal could take up to six months to finalize, emphasizing the need to extend the ceasefire during this period.
The global oil market has been rocked by the conflict, which is approaching its 50th day. The clashes have caused major supply disruptions as Iran has severely restricted shipping in the Strait of Hormuz, a key route for about a fifth of the world's oil flows. The United States has also recently imposed a naval blockade in the area.
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