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Oil slides below $100 after Trump announces two-week ceasefire

SINGAPORE, April 8 (Reuters) – Oil fell below $100 per barrel ‌on Wednesday after U.S. President Donald Trump said he had agreed to a two-week ceasefire with Iran that was subject to the immediate and safe reopening of the Strait of Hormuz. Brent futures fell $14.51, or 13.3%, to $94.76 a barrel at 0330 GMT, ​while WTI slid $17.16, or 15.2%, to $95.79 a barrel. Trump’s turnaround came shortly before his deadline for Iran to ​open the Strait of Hormuz, where 20% of the world’s oil transits, or ⁠face widespread attacks on its civilian infrastructure. “This will be a double

Trump agrees to two-week Iran ceasefire, drops threat to destroy ‘whole civilization’

WASHINGTON/DUBAI/CAIRO, April 7 (Reuters) – U.S. President Donald Trump agreed to a two-week ceasefire with Iran on Tuesday, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face ​devastating attacks on its civilian infrastructure. Trump’s announcement on social media represented an abrupt turnaround from earlier in the day, when he issued an extraordinary warning that “a whole civilization will die tonight” if ‌his demands were not met. Pakistan Prime Minister Shehbaz Sharif, who helped mediate the ceasefire, said in a post on X that he had invited Iranian and U.S. delegations to meet

US and Iran agree to 2-week ceasefire but Israel says deal doesn’t include fight against Hezbollah

TEL AVIV, Israel, April 8, 2026 (AP) — Prime Minister Benjamin Netanyahu said Israel backed the U.S. ceasefire with Iran but that the deal doesn’t cover fighting against Hezbollah in Lebanon. Netanyahu’s office said in the statement Wednesday that Israel supported U.S. President Donald Trump’s decision to suspend strikes against Iran for two weeks subject to Iran immediately opening the Strait of Hormuz and stopping all attacks on the U.S. Israel and countries in the region. His office said Israel also supports U.S. efforts to ensure Iran no longer poses a nuclear or missile threat. THIS IS A BREAKING NEWS

US and Iran agree to 2-week ceasefire as Trump pulls back on threats

President Donald Trump speakS with reporters during a news conference in the James Brady Press Briefing Room at the White House, Monday, April 6, 2026, in Washington. (Photo: AP)

TEHRAN, Iran (AP) — U.S. President Donald Trump pulled back on his threats to launch devastating strikes on Iran late Tuesday, as the U.S. and Iran agreed to a two-week ceasefire that includes the reopening of the Strait of Hormuz. Trump swerved to deescalate the war less than two hours before the deadline he set for Tehran to capitulate to a deal or face attacks on its bridges and power plants meant to destroy Iranian “civilization.” Iran’s Supreme National Security Council said it has accepted the ceasefire and that it would negotiate with the United States in Islamabad beginning Friday. Neither Iran nor the United States

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