US EditionStocks Soar, Oil Prices Plunge Amid US-Iran Ceasefire, Industry Expert Says What's Next for the Permian Basin
Dubai and Abu Dhabi indexes rose as oil slid 15% and the Strait of Hormuz reopened, easing supply fears after the ceasefire.
- On Wednesday, Gulf stocks surged and WTI Crude fell below $100 a barrel as investors digested news of a two-week ceasefire. Dubai's benchmark index rose more than 6%, while Abu Dhabi's index gained around 3%.
- Reopening the Strait of Hormuz for the first time since the war began over five weeks ago prompted WTI Crude to fall 15% to $96 a barrel.
- Meta Platforms rallied 6.5% and ASML surged 8.74% as global markets advanced. United Airlines gained 7.85% and Delta Air Lines rose 3.75% on ceasefire optimism.
- Energy majors Exxon Mobil and Chevron lagged as crude prices tumbled, gaining only 4.69% and 4.36% respectively. Saudi Arabia's main index bucked the trend, rising 1.8% on Wednesday.
- Large shipping companies remain cautious despite the ceasefire, with no signs of increased traffic heading for the Strait of Hormuz as of early afternoon Gulf time Wednesday.
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Stocks soar, oil prices plunge amid US-Iran ceasefire, industry expert says what's next for the Permian Basin
ODESSA, Texas (KMID/KPEJ) - Tuesday — President Trump agreed to a ceasefire with Iran, suspending any potential bombings or attacks for two weeks. While this provides a temporary pause for negotiations, the prices of oil continue to fluctuate. At the start of the week (4/6/2026), the price for West Texas Intermediate (WTI) saw a high [...]
Stock Market Today, April 8: Oil Prices Plunge and Markets Rally on Iran Ceasefire
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Gulf stocks surge and oil falls after ceasefire deal
Gulf stocks surged along with global markets and oil fell below $100 a barrel as investors digested the news of the two-week ceasefire. Dubai’s benchmark index rose more than 6% as real estate stocks rebounded and Abu Dhabi’s was up around 3% on Wednesday, although both markets are still lower than before the war started. Other regional bourses jumped on optimism about an end to Iranian attacks on the region that have caused significant damage t…
Dubai Stocks Soar Most in a Decade on Iran War Ceasefire Relief
Dubai’s benchmark stock index surged the most in more than a decade after the US and Iran agreed to a two-week ceasefire in a conflict that had rattled Gulf markets and threatened energy infrastructure across the region.
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