“Iran doesn’t need a lot of military might to cause a huge disruption in the global economy,” Brookings energy expert Samantha Gross said last month. Investors and traders cheered the ceasefire, even as analysts warned that global oil supply worries have not gone away. Crude oil prices plunged 15-20% on Wednesday, with benchmark European natural gas prices tumbling by a similar margin. Washington even temporarily lifted sanctions on around 140 million barrels of seaborne Iranian oil to alleviate the global supply crunch. On Wednesday, Iran’s semi-official Tasnim news agency reported that Iran and Oman plan to charge transit fees.

Source: CNN April 08, 2026 18:12 UTC