{"id":49388,"date":"2026-04-09T01:38:01","date_gmt":"2026-04-09T05:38:01","guid":{"rendered":"https:\/\/tvdelmarva.com\/wp\/oil-prices-surge-past-97-as-asian-markets-drop-amid-shaky-iran-ceasefire\/"},"modified":"2026-04-09T01:38:01","modified_gmt":"2026-04-09T05:38:01","slug":"oil-prices-surge-past-97-as-asian-markets-drop-amid-shaky-iran-ceasefire","status":"publish","type":"post","link":"https:\/\/tvdelmarva.com\/wp\/oil-prices-surge-past-97-as-asian-markets-drop-amid-shaky-iran-ceasefire\/","title":{"rendered":"Oil Prices Surge Past $97 as Asian Markets Drop Amid Shaky Iran Ceasefire"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n

HONG KONG (AP) \u2014 Crude oil climbed back above $97 per barrel while Asian stock markets declined Thursday as investors questioned the durability of a two-week ceasefire between the United States and Iran.<\/p>

Market watchers expressed doubt about whether the recently announced truce was already unraveling following devastating Israeli attacks in Lebanon that resulted in hundreds of casualties. In response to the Lebanese strikes, Iran once again shut down the Strait of Hormuz shipping corridor.<\/p>

Japan’s Nikkei 225 index declined 0.9% to close at 55,824.30, while South Korea’s Kospi index dropped 1.6% to finish at 5,776.03.<\/p>

In Hong Kong, the Hang Seng index slipped 0.4% to 25,801.87, and China’s Shanghai Composite fell 0.7% to 3,965.70.<\/p>

Australia’s S&P\/ASX 200 dipped 0.1%, and Taiwan’s Taiex also retreated 0.1%.<\/p>

U.S. stock futures pointed to a decline of more than 0.1% at Thursday’s opening.<\/p>

Energy prices rebounded Thursday, erasing earlier losses that occurred when news of the temporary truce first emerged. Brent crude, the global benchmark, gained 2.4% to reach $97.02 per barrel after briefly dropping below $92 when the ceasefire was initially announced.<\/p>

West Texas Intermediate, the U.S. oil standard, jumped 3.3% Thursday to $97.50 per barrel.<\/p>

Concerns about worldwide energy supplies persisted as the Strait of Hormuz remained mostly blocked despite repeated U.S. demands for its reopening. This critical waterway typically handles about 20% of global oil shipments.<\/p>

Diplomatic efforts to secure a lasting peace agreement could begin as early as Friday in Pakistan, with U.S. Vice President JD Vance anticipated to head the American delegation.<\/p>

U.S. markets rallied Wednesday after President Donald Trump revealed the two-week ceasefire arrangement with Iran late Tuesday evening.<\/p>

The S&P 500 surged 2.5% to 6,782.81, while the Dow Jones Industrial Average climbed 2.9% to 47,909.92. The Nasdaq composite advanced 2.8% to 22,635.00.<\/p>

As optimism grew about potential conflict reduction, airline stocks soared Wednesday with United Airlines jumping 7.9% and American Airlines rising 5.6%. Carnival cruise line shares rocketed 11.2% higher, recovering some losses accumulated since the Iran conflict began amid worries about elevated fuel expenses.<\/p>

Precious metals declined in Thursday trading, with gold dropping 0.7% to $4,743.20 per ounce and silver falling 1.6% to $74.18 per ounce.<\/p>

Currency markets saw the U.S. dollar strengthen to 158.66 Japanese yen from the previous 158.57 yen. The euro traded at $1.1668, up from $1.1663.<\/p>","protected":false},"excerpt":{"rendered":"

Crude oil climbed back above $97 per barrel while Asian stock markets declined Thursday as investors questioned the durability of a two-week ceasefire between the United States and Iran. The fragile truce faced immediate pressure after deadly Israeli strikes in Lebanon prompted Iran to close the crucial Strait of Hormuz shipping lane again.<\/p>\n","protected":false},"author":4,"featured_media":49387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[834],"tags":[],"class_list":["post-49388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775713080715.jpg?fit=1000%2C666&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/pbtNqq-cQA","jetpack-related-posts":[{"id":49983,"url":"https:\/\/tvdelmarva.com\/wp\/markets-rise-as-u-s-iran-peace-talks-set-to-begin-in-pakistan\/","url_meta":{"origin":49388,"position":0},"title":"Markets Rise as U.S.-Iran Peace Talks Set to Begin in Pakistan","author":"Admin","date":"April 10, 2026","format":false,"excerpt":"Asian stock markets posted gains Friday following Wall Street's positive performance, while oil prices climbed ahead of planned ceasefire negotiations between the United States and Iran. The talks, scheduled to begin Saturday in Islamabad with Vice President JD Vance leading the U.S. delegation, aim to establish a permanent end to\u2026","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775803072897.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775803072897.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775803072897.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775803072897.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":64659,"url":"https:\/\/tvdelmarva.com\/wp\/oil-prices-surge-after-trump-dismisses-iran-peace-response-asian-markets-mixed\/","url_meta":{"origin":49388,"position":1},"title":"Oil Prices Surge After Trump Dismisses Iran Peace Response; Asian Markets Mixed","author":"Admin","date":"May 11, 2026","format":false,"excerpt":"Oil prices jumped more than 4% Monday following President Trump's rejection of Iran's latest ceasefire response via social media. Asian stock markets showed mixed results despite the ongoing conflict, with technology stocks driving gains in some regions.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1778481443299.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1778481443299.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1778481443299.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1778481443299.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":56151,"url":"https:\/\/tvdelmarva.com\/wp\/asian-markets-drop-oil-hits-100-mark-after-wall-street-records\/","url_meta":{"origin":49388,"position":2},"title":"Asian Markets Drop, Oil Hits $100 Mark After Wall Street Records","author":"Admin","date":"April 23, 2026","format":false,"excerpt":"Asian stock markets pulled back Thursday despite Wall Street hitting new records the day before. Oil prices climbed above $100 per barrel as concerns grow over stalled peace negotiations in the Iran conflict.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1776922775740.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1776922775740.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1776922775740.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1776922775740.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":73539,"url":"https:\/\/tvdelmarva.com\/wp\/asian-markets-rise-on-possible-u-s-iran-ceasefire-extension\/","url_meta":{"origin":49388,"position":3},"title":"Asian Markets Rise on Possible U.S.-Iran Ceasefire Extension","author":"Admin","date":"May 28, 2026","format":false,"excerpt":"Stock markets across Asia climbed Friday amid speculation that the United States and Iran may agree to extend their current ceasefire by two months. Oil prices dropped on hopes for reduced conflict, though experts warn the situation remains fragile.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1780025915342.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1780025915342.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1780025915342.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1780025915342.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":56717,"url":"https:\/\/tvdelmarva.com\/wp\/global-markets-decline-as-iran-conflict-stalls-peace-talks-oil-prices-surge\/","url_meta":{"origin":49388,"position":4},"title":"Global Markets Decline as Iran Conflict Stalls Peace Talks, Oil Prices Surge","author":"Admin","date":"April 24, 2026","format":false,"excerpt":"Asian markets followed Wall Street's decline Friday as ongoing tensions between the U.S. and Iran continue to disrupt global energy supplies. Oil prices climbed higher amid stalled peace negotiations and blockades affecting the Strait of Hormuz, a critical shipping route for global energy.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1777009119380.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1777009119380.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1777009119380.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1777009119380.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":48774,"url":"https:\/\/tvdelmarva.com\/wp\/asian-markets-rally-as-oil-prices-drop-following-us-iran-ceasefire-deal\/","url_meta":{"origin":49388,"position":5},"title":"Asian Markets Rally as Oil Prices Drop Following US-Iran Ceasefire Deal","author":"Admin","date":"April 7, 2026","format":false,"excerpt":"Stock markets across Asia experienced significant gains Wednesday morning following news of a two-week ceasefire agreement between the United States and Iran. The temporary truce includes reopening the crucial Strait of Hormuz, causing oil prices to plummet as global shipping concerns ease.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775619359515.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775619359515.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775619359515.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1775619359515.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/posts\/49388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/comments?post=49388"}],"version-history":[{"count":0,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/posts\/49388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/media\/49387"}],"wp:attachment":[{"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/media?parent=49388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/categories?post=49388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tvdelmarva.com\/wp\/wp-json\/wp\/v2\/tags?post=49388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}