Brent oil falls 7% after Iran opens Strait of Hormuz during ceasefire


Iranian Foreign Minister Seyyed Abbas Araqji announced on April 17 the Fatih of the Hormuz city of Harani. This announcement came as part of the 10-day ceasefire between the Israeli and Lebanese occupations.

بقاع الفتح with that conditionally. Ships must follow the coordinated routes determined by the Port Authority and the coordinated routes determined by the Port Authority and Maritime Affairs Organization. Access is only available for the remainder of the truce.

Oil prices fall as supply fears ease

led advertisement To immediate sale operations in the energy markets. Brent crude fell 6.84%, down from $99.39 on April 16 to around $92. American crude oil also fell by 7.04% in the same direction.

The Strait of Hormuz handles approximately 20% of the nation’s daily oil and liquid natural gas shipments daily. Iran had already restricted transit through the German corridor during the wider conflict, but it did not pay, but it did not pay $01 earlier this month.

the markets had already begun to price the possibility of reaching a solution; where oil fell to less than $95 on April 14 after that pointed out The White House to advance negotiations between the United States and Iran.

price of Brent oil
Brent oil price performance source: trading fio

Trump credits himself, and Bitcoin rises

American President Donald Trump reacted quickly via the social truth platform, and wrote that the platform is completely open and ready to go through the whole for ships.” use the term “مدیک یران” instead of من اسم الصحیح.

Trump offered unrestricted access, although Iran’s conditions are limited فتح المديق during the truce period and on the routes specified for the ships.

In addition to oil, the other markets responded positively. Bitcoin (btc) gained 1.59%, while the S&P 500 rose by 0.07%, making it a high-risk indicator in the market.

Performance of bitcoin prices, S&P500, Brent and WTI.
Performance of bitcoin prices, S&P500, Brent and WTI. Source: TradingView

You point out that excitement may not last long. The cease-fire between the United States and Iran ends on April 21, and any violation of the cease-fire will result in the reversal of the resulting ceasefire. The broader negotiations regarding Iran’s nuclear program and sanctions remain unresolved.





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