Oil Falls on Iran Deal Optimism

2026-04-17 09:24 By Agna Gabriel 1 min. read

WTI crude futures slipped toward $91 per barrel on Friday, retreating after a 3.7% gain in the prior session as President Donald Trump struck an optimistic tone about the chances of a lasting US-Iran ceasefire.

He said Tehran had agreed to key terms, including reopening the Strait of Hormuz, though Iran has not confirmed this.

Officials suggest a full deal could take up to six months, with calls to extend the current truce.

The conflict, nearing 50 days, has triggered a major supply shock, with Iranian restrictions and a US naval blockade keeping flows through Hormuz near a standstill.

Trump said a deal could come soon, but left room to extend talks if needed.

Meanwhile, a 10-day ceasefire between Israel and Lebanon may help ease regional tensions.

Disruptions have reshaped trade flows, with US crude exports surging to near-record levels as Europe and Asia seek alternatives, pushing the US close to net-exporter status for the first time since World War Two.



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Crude Oil WTI is down by 4%
Crude Oil WTI decreased 4% to 90.898 USD/Bbl
2026-04-17
Oil Falls on Iran Deal Optimism
WTI crude futures slipped toward $91 per barrel on Friday, retreating after a 3.7% gain in the prior session as President Donald Trump struck an optimistic tone about the chances of a lasting US-Iran ceasefire. He said Tehran had agreed to key terms, including reopening the Strait of Hormuz, though Iran has not confirmed this. Officials suggest a full deal could take up to six months, with calls to extend the current truce. The conflict, nearing 50 days, has triggered a major supply shock, with Iranian restrictions and a US naval blockade keeping flows through Hormuz near a standstill. Trump said a deal could come soon, but left room to extend talks if needed. Meanwhile, a 10-day ceasefire between Israel and Lebanon may help ease regional tensions. Disruptions have reshaped trade flows, with US crude exports surging to near-record levels as Europe and Asia seek alternatives, pushing the US close to net-exporter status for the first time since World War Two.
2026-04-17
Oil Falls on Iran Deal Optimism
WTI crude futures slipped toward $93 per barrel on Friday, trimming gains from the previous session after US President Donald Trump voiced optimism about a possible agreement to end the conflict with Iran. He said Tehran had accepted terms that include abandoning ambitions for a nuclear weapon, providing “free oil,” and reopening the Strait of Hormuz, though Iranian authorities have yet to confirm the claims. Trump also announced a 10-day ceasefire between Israel and Lebanon, which was confirmed by Israeli Prime Minister Benjamin Netanyahu. Meanwhile, the Strait of Hormuz remains effectively closed due to a dual blockade by the US and Iran, keeping markets on edge over further disruptions to global energy flows. Meanwhile, IMF Executive Director Fatih Birol warned that restoring a meaningful portion of disrupted oil and gas output could take up to two years.
2026-04-16