Hong Kong, April 8, 2026 (AFP) - Crude prices plunge, stocks surge as US and Iran agree ceasefire

NAMPA / AFP

2026-04-08

Oil prices plunged Wednesday while stocks soared after the United States and Iran agreed to a two-week ceasefire that will see Tehran temporarily reopen the vital Strait of Hormuz. With Donald Trump's deadline approaching for the Islamic republic to reopen the waterway or face obliteration, he announced a halt to attacks for two weeks and said he had received a "workable" 10-point proposal. Iran later said it had agreed to safe passage in the Str......

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