![\"A](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/04\/price-of-oil-tumbles-as-global-stocks-rebound-on-two-week-ceasefire.jpg\")
(PA Graphics)<\/p>\nThe price of oil plunged and global stock markets recovered sharply after the US and Iran agreed a two-week ceasefire.<\/p>\n
The conditional ceasefire deal includes reopening the important Strait of Hormuz waterway.<\/p>\n
Traders and investors welcomed the deal on Wednesday morning after a volatile six weeks for the financial markets since the conflict first began.<\/p>\n
London\u2019s FTSE 100 index of major firms jumped by as much as 2.6% at the start of trading as a result.<\/p>\n
\n<\/p>\n
It came as the price of benchmark Brent crude oil slid by 14.3% to 93.6 US dollars (\u20ac80.18) a barrel as a result.<\/p>\n
Nevertheless, prices remain significantly higher than before the conflict began, when Brent had sat at around $70 a barrel.<\/p>\n
The ceasefire followed threats by President Donald Trump on Tuesday that \u201ca whole civilisation will die\u201d unless Tehran met his demands.<\/p>\n
Less than two hours before his deadline passed for Iran to agree a deal, the US president said he was suspending his threat to widen the military offensive to power plants and bridges, subject to the strait reopening.<\/p>\n
(PA Graphics)<\/p>\n
Stock markets roundly welcomed the news, with key Asian indexes such as Japan\u2019s Nikkei 225 and South Korea\u2019s Kospi rising by more than 5%.<\/p>\n
European markets also opened positively, with the FTSE 100 up by 268.28, or 2.59%, to 10,617.07 points after the opening bell, taking it to its highest level for around a month.<\/p>\n
The FTSE 250 index was, meanwhile, up 3.75%.<\/p>\n
Experts have suggested that the ceasefire may drive hopes that the increases in the cost-of-living are not \u201cas painful\u201d as many have been expecting.<\/p>\n
Susannah Streeter, chief investment strategist at Wealth Club, said: \u201cA wave of relief has hit financial markets after threats of a devastating escalation of the war were replaced by a temporary truce.<\/p>\n
\u201cThe two-week ceasefire is likely to be fraught with uncertainty but for now there are hopes that it will be a precursor to a longer-lasting agreement.<\/p>\n
\u201cThere is a chance that the cost-of-living crisis consumers are already having to deal with may not be quite as painful.\u201d<\/p>\n
Josh Gilbert, market analyst for eToro, said: \u201cUltimately, it\u2019s important that investors don\u2019t get ahead of themselves.<\/p>\n
\u201cWe\u2019ve seen Trump set and extend deadlines multiple times before, and a two-week window is not a permanent resolution.<\/p>\n
\u201cThe rally in risk assets makes sense on the headline, but it will need to be backed up by tangible progress in negotiations to hold.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The price of oil plunged and global stock markets recovered sharply after the US and Iran agreed a…\n","protected":false},"author":2,"featured_media":388175,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[42,43,40,38,41,39],"class_list":{"0":"post-388174","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-headlines","9":"tag-news","10":"tag-top-news","11":"tag-top-stories","12":"tag-topnews","13":"tag-topstories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/388174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=388174"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/388174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/388175"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=388174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=388174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=388174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}