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.




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