08.04.2026 00:12
Pakistan Prime Minister Shahbaz Sharif's call for a temporary ceasefire between the US-Israel and Iran, as well as the opening of the Strait of Hormuz for two weeks, has had an impact on the markets. The price of Brent crude oil fell by more than 3%, dropping to $106.50 per barrel. Meanwhile, US stock markets, which had shown mixed trends throughout the day, recovered sharply after Sharif's statement.
Prime Minister Shahbaz Sharif's call to President Trump and Iran has increased hopes for a diplomatic opening in the Middle East. The call for a "temporary ceasefire" and the "opening of the Strait of Hormuz for two weeks" alleviated supply concerns. The recent rise in crude oil prices, driven by fears that energy flow through the Strait of Hormuz could be disrupted for an extended period, has begun to decline.
DECLINE IN BRENT OIL PRICE
Brent crude futures lost value on Tuesday. The price of Brent crude per barrel fell to $106.50, a decrease of 3.1%. Oil prices came under pressure suddenly.
US STOCKS RECOVERED
US stocks showed a mixed trend on Tuesday, just minutes before the deadline set by President Donald Trump for Iran to open the Strait of Hormuz, amid signs of progress in negotiations.
In the last hour of trading, following Prime Minister Sharif's call, the three major US stock indices also recovered from sharp losses at the beginning of the session.