Oil prices fell sharply, Brent down ~1% to $97.56 and WTI down 1.2% to $84.95 amid ceasefire extension.
President Donald Trump announced an indefinite extension of the US‑Iran ceasefire, but Iran’s response remained unclear.
U.S. crude inventories dropped 4.4 million barrels in the week to April 17, far exceeding the 1 million‑barrel draw forecast.
Strait of Hormuz stays closed, cutting ~20% of global oil flow; Trump says Iran loses $500 million daily and U.S. gasoline prices are up ~40% since the war began.