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2 sources·Updated Apr 18, 2026

Oil prices plunge as Strait of Hormuz reopens

Iran declared the Strait of Hormuz open for commercial ships during the ceasefire, leading to a significant drop in oil prices. The cost of a barrel of Brent crude fell to $88 from above $98 earlier. Global markets rallied with major stock indices rising.

AIThe headline and summary here were written with AI from the newsrooms' reports and checked against them. AI can make mistakes, so read the linked reports for the full account.

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Full coverage

  • News First·Apr 18, 2026Oil Prices Fall as Strait of Hormuz Reopens
  • Ada Derana·Apr 17, 2026Oil prices plunge as Iran says Strait of Hormuz open during ceasefire
  • News First·Apr 17, 2026Iran Declares Strait of Hormuz Fully Open

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What this story is about

People
  • Donald Trump·
  • Abbas Araghchi·
  • Seyed Abbas Araghchi
Organisations
  • Ports and Maritime Organisation of·
  • United Nations·
  • BBC·
  • RAC
Places
  • Strait of Hormuz·
  • United States·
  • Iran·
  • Frankfurt·
  • of Hormuz·
  • Israel·
  • London·
  • Paris

At a glance

Newsrooms
2
Articles
3
First reported
Apr 17, 6:53 PM
Latest update
Apr 18, 6:48 AM

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