(April 9) : Oil rebounded after its biggest one-day drop since April 2020, as the Strait of Hormuz remained largely blocked and Israeli attacks on Lebanon threatened to derail the fragile ceasefire in the Middle East. West Texas Intermediate traded near US$97 a barrel, after slumping 14% on Wednesday, while Brent closed below US$95. Vance will lead a US delegation to Islamabad for direct talks with Iran on Saturday morning local time. Output has been reduced at oil and gas fields, while refineries have curtailed production or shut down. “We’re still far from over in Iran,” said Carl Larry, an oil and gas analyst at Enverus.

Source: The Edge Markets April 08, 2026 22:26 UTC