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Brent Crude Falls to $95 Amid Ongoing Geopolitical Tensions

4/9/2026

23 1 Full Breakdown

Summary

US-Iran Ceasefire Impact

Following a two-week ceasefire between the United States and Iran, Brent crude has fallen to around $95 per barrel.
Analysts warn that UK and Australian drivers may not see immediate relief at the pump.
In the UK, petrol prices have risen to 157.71p per litre, while diesel exceeds 190p.
Analysts suggest prices may stabilize but will not drop sharply due to ongoing geopolitical tensions and supply chain disruptions.

Summary

France's Fuel Crisis

France faces fuel shortages as 16% of service stations report diesel outages due to logistics.
The Strait of Hormuz reopening is expected to lower crude oil prices.
TotalEnergies extended its fuel cap until April 30, keeping petrol at €1.99 and raising diesel to €2.25.
Average diesel prices have reached a record €2.375 per litre.
The government says resupply efforts are underway to alleviate the shortages.

History

Historical Context

The 1973 oil crisis began when the Organization of Arab Petroleum Exporting Countries (OAPEC) imposed an embargo against nations supporting Israel during the Yom Kippur War, leading to a dramatic price increase from $3 to nearly $12 per barrel. This event reshaped global energy policies and economic landscapes, with lasting effects still evident in today's oil markets, where Brent crude prices hover around $95 per barrel.

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US-Iran Ceasefire Impact

Following a two-week ceasefire between the United States and Iran, Brent crude has fallen to around $95 per barrel.
Analysts warn that UK and Australian drivers may not see immediate relief at the pump.
In the UK, petrol prices have risen to 157.71p per litre, while diesel exceeds 190p.
Analysts suggest prices may stabilize but will not drop sharply due to ongoing geopolitical tensions and supply chain disruptions.

1 / 3