Global oil prices dropped sharply on April 8, 2026, after the United States and Iran agreed to a conditional two-week ceasefire. The development eased geopolitical tensions, boosting stock markets and raising hopes for long-term peace talks.

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• Oil prices fell sharply after ceasefire agreement between United States and Iran.
• Brent crude dropped below 100 dollars to around 92.30 dollars per barrel.
• US crude prices also declined nearly 16.5 percent to about 93.80 dollars.
• Global stock markets surged following easing geopolitical tensions.
• Ceasefire agreement is conditional and set for two-week duration.
• US preparing for direct negotiations with Iran for long-term deal.
• Talks likely to be led by JD Vance.
• Objective is to establish framework for lasting peace agreement.
• White House confirmed discussions for face-to-face talks underway.
• Final announcement expected from US President or White House.