NEW DELHI: Crude oil prices in the international market dropped sharply following the announcement of a ceasefire by the United States in the ongoing West Asia conflict. Brent crude prices fell by more than 13%, trading at $94.94 per barrel—down 13.62% or $14.88—at 7:04 AM Indian Standard Time. The conflict, now in its 35th day, had pushed crude prices to nearly double their pre-war levels. US President Donald Trump, in a post on Truth Social, announced a two-week ceasefire in the conflict. He stated that he would suspend bombing and attacks on Iran for a limited period.

Source: Indian Express April 08, 2026 07:21 UTC