[MARKET ANALYSIS] Oil prices nurse some of yesterday's substantial losses amid a somewhat fragile US-Iran ceasefire

Oil prices are attempting to recover from significant losses following a tenuous ceasefire between the U.S.

Newsquawk StaffPublished 9 Apr 2026, 02:25 UTCOn the live feed at 02:05 UTC, 20 minutes before this page

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02:32

US Energy Secretary Wright warns California's energy crisis under Gov. Newsom could threaten national security, according to Fox Business

02:29

[MARKET ANALYSIS] Treasury futures are lacklustre after reversing the ceasefire-driven advances

02:05

[MARKET ANALYSIS] Oil prices nurse some of yesterday's substantial losses amid a somewhat fragile US-Iran ceasefire

01:33

OCBC Group Research FX strategists say Asian currencies' recovery spurred by the US-Iran ceasefire is likely a tactical reprieve rather than a full reversal at this juncture, according to WSJ

01:21

PBoC injects CNY 0.5bln via 7-day reverse repos with the rate at 1.40%

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WTI/Brent: WTI May'26 +3.5% / Brent Jun'26 +2.8%

Nurses some of the prior day's hefty losses after suffering double-digit declines following the announcement of the US-Iran ceasefire, although the details of the agreement remain unclear with no firm consensus between the sides and with Lebanon a key contention point, Iran has accused its counterparts of breaching the agreement with Parliament Speaker Ghalibaf stating that three clauses of the 10-point plan have already been violated, making a bilateral ceasefire or negotiations unreasonable.

Gold: +0.1%

Price action is choppy after the precious metal gradually faded all of its ceasefire spoils and returned to a near-term support level around USD 4,700/oz.

Copper: -1.1%

Pulled back overnight as the heightened risk appetite from the fragile US-Iran ceasefire petered out.

Context

and Iran. The lack of clarity in the agreement, especially regarding violations and contention points, suggests ongoing volatility in the market, which could impact energy prices and related sectors as traders navigate the geopolitical backdrop.

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