Oil prices rise as traders monitor fragile US-Iran ceasefire
Osmond ChiaBusiness reporterThursday April 9, 2026
Oil prices climbed in Asian trading on Thursday as markets tracked the increasingly shaky US-Iran ceasefire and what it could mean for shipments through the Strait of Hormuz.
The two-week truce, already described as conditional, came under fresh pressure after Israel carried out a series of deadly strikes in Lebanon, drawing a warning from Tehran of a "regret‑inducing response" if the attacks go on.
Oil prices plunged on Wednesday after the announcement of the agreement…