Oil price rises as markets question durability of Middle East ceasefire
Gas prices also increase, while global stock markets slip back after strong rally on Wednesday Business live – latest updates Oil and gas prices rose on Thursday and Asian stock markets retreated as the two-week ceasefire in Iran looked increasingly shaky , with Israel continuing attacks on Lebanon and the US and Iran threatening a return to military action. A day after the US and Iran announced an 11th-hour ceasefire , including an agreement to reopen the strait of Hormuz, many questions remain
Uncertainty over US-Iran ceasefire pushes price of Brent crude towards $100 a barrel
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The boss of Abu Dhabi’s state-owned oil company has warned that the strait of Hormuz is “not open” despite the US-Iran ceasefire agreed earlier this week, as uncertainty over the truce pushed the price of Brent crude towards $100 a barrel on Thursday.
Sultan Al Jaber, the chief executive officer of the Abu Dhabi National Oil Company (Adnoc), said passage through the crucial waterway was subject to “permission, conditions and political leverage” by Iran. He insisted that energy security and global economic stability depend on the strait being opened “fully, unconditionally and without restriction”.
Coverage from 5 sources
- Oil price rises as markets question durability of Middle East ceasefireGuardian - World · Julia Kollewe · Apr 9, 2026, 9:17 AM
- Strait of Hormuz ‘not open’, warns boss of Abu Dhabi’s state-owned oil companyGuardian - World · Julia Kollewe · Apr 9, 2026, 1:46 PM
- Strait of Hormuz ‘not open’, warns Abu Dhabi’s oil chief as crude prices riseGuardian - World · Julia Kollewe · Apr 9, 2026, 2:14 PM
- Strait of Hormuz not open Abu Dhabi’s oil chief says as crude prices riseGuardian - World · Julia Kollewe · Apr 9, 2026, 2:14 PM
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