Business News of Wednesday, 8 April 2026Source: edition.cnn.comOil prices plummeted on Tuesday after President Donald Trump agreed to a two-week ceasefire with Iran, spurring hopes that more oil tankers would be able to transit the key Strait of Hormuz soon. US crude futures declined more than 15% after hours to less than $95 a barrel - a significant drop, but still well above the $67.02 settled on February 27, before the war began. Brent crude futures, the global benchmark, declined 12.88% to $95.12. Dow futures leapt more than 900 points, or about 2%, S&P 500 futures increased 2.1%, and Nasdaq futures rose about 2.5% in after-hours trading. Both the futures and physical oil markets had signalled major warning signs.

Source: CNN April 08, 2026 04:49 UTC