Finance
US Crude Futures Rise After Settling Previous Session With Biggest Fall in Six Years
Published by Global Banking & Finance Review®
Posted on April 8, 2026
1 min readLast updated: April 8, 2026
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U.S. crude futures rebounded, rising $2.68 (2.84%) to $97.09 a barrel, after the prior session saw the biggest drop since April 2020, following President Trump’s agreement to a two‑week ceasefire with Iran.
US Crude Futures Surge Following Biggest Six-Year Drop Amid Iran Ceasefire
Market Reaction and Geopolitical Context
US Crude Futures Rebound
BEIJING, April 9 (Reuters) - U.S. crude futures rose on Thursday morning after settling with the biggest fall since April 2020 during the previous trading session, after U.S. President Donald Trump agreed to a two-week ceasefire with Iran.
West Texas Intermediate (WTI) Performance
U.S. West Texas Intermediate (WTI) crude rose $2.68, or 2.84%, to $97.09 a barrel at 2218 GMT.
Escalating Tensions in the Middle East
Israel's Strikes on Lebanon
Israel pounded Lebanon with its heaviest strikes yet on Wednesday, killing hundreds of people and drawing a threat of retaliation from Iran, which suggested it would be "unreasonable" to proceed with talks to forge a permanent peace deal with the United States.
Iran's Response and Ceasefire Violations
Parliament Speaker's Statement
Iran's parliament speaker said Israel had already violated several conditions of that ceasefire by ramping up its parallel war against the Iran-aligned militia Hezbollah, while the United States had violated the agreement by insisting that Iran abandon its nuclear ambitions.
(Reporting by Sam Li and Lewis Jackson; Editing by Nia Williams)
Key Takeaways
- •The prior session delivered U.S. crude’s sharpest single‑day decline since April 2020, triggered by Trump’s ceasefire announcement with Iran amidst regional tensions.
- •Markets responded with a rebound in crude futures, as hopes for resumed Gulf oil flow buoyed prices.
- •Deteriorating situation continues: Israel’s intense strikes on Lebanon and Iran’s objections to the ceasefire inject renewed uncertainty into oil markets.
Frequently Asked Questions about US crude futures rise after settling previous session with biggest fall in six years
1Why did US crude futures rise on Thursday morning?
US crude futures rose after settling the previous session with the biggest fall since April 2020, following a ceasefire agreement between the US and Iran.
2What was the price increase for West Texas Intermediate crude?
West Texas Intermediate (WTI) crude rose $2.68, or 2.84%, to $97.09 a barrel.
3Did the ceasefire between the US and Iran hold?
Iran accused Israel and the United States of violating the ceasefire conditions, casting doubt on its sustainability.
4Who reported the news on US crude futures?
The report was written by Sam Li and Lewis Jackson and edited by Nia Williams.
