Mideast truce met with market cautionFollowing a conditional two‑week ceasefire between the US and Iran and the prospect of reopening the Strait of Hormuz, both WTI and Brent crude prices fell below $100 a barrel on Wednesday. OIL PRICE RETREATPathompol Taechanop, vice-president of the research department at Krungthai XSpring Securities, said the oil price has retreated sharply, falling 15% to below US$100 per barrel after the ceasefire agreement was announced. Iraq, the largest importer of Thai rice by volume, purchased about 1 million tonnes valued at $426.8 million in 2025, according to the Commerce Ministry. He also expressed concern over rising prices of Thai rice, driven by increased logistics and packaging costs amid global supply chain disruptions. This makes Thai rice less competitive than that of Vietnam and India.

Source: Bangkok Post April 09, 2026 03:34 UTC