Oil prices fall sharply as Iran confirms Strait of Hormuz remains open during ceasefire
Published On 18 Apr, 2026
Oil prices declined significantly after Iran reassured that the Strait of Hormuz will remain open amid the ceasefire, calming fears of supply disruptions. The crucial maritime route, responsible for transporting a large share of the world’s oil, is central to global energy stability. The announcement helped ease market tensions, support steady shipping flows, and reduce the risk of further volatility in international oil markets.
