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Oil Prices Surge Amid U.S.-Iran Ceasefire Tensions

4/9/2026

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Story summary
  • Oil prices rose on April 9, 2026 in Yantai, Shandong province, China, after Iran accused the United States of violating a two-week ceasefire.
  • Brent crude futures for June rose 2.52% to $97.14 per barrel.
  • U.S. West Texas Intermediate crude for May rose 2.72% to $96.96 per barrel.
  • Iranian parliamentary speaker Mohammad Bagher Ghalibaf said the United States has a history of breaching commitments, fueling distrust.