Crude Climbs as Iran Ceasefire Holds, Markets Stabilize

Key Details Oil prices rebounded April 22 after President Trump extended a ceasefire agreement with Iran. U.S. crude rose 82 cents to $90.49 per barrel, while Brent crude gained 99 cents to $99.47. Stock futures showed modest gains in premarket trading, with the S&P 500 and Dow each up 0.5% and Nasdaq up 0.7%. Why It Matters These price movements are significantly calmer than earlier volatility when Brent crude briefly topped $119. The stability reflects reduced uncertainty about potential disruptions to the Strait of Hormuz, a critical waterway for global oil exports. Despite the truce, Iran fired on three ships April 22, and both nations have warned they remain ready to resume fighting if negotiations stall. What's Next The ceasefire remains fragile with both sides prepared to escalate. Planned diplomatic talks with Vice President JD Vance in Pakistan were cancelled this week. For trucking operations, fuel price stability depends on whether negotiations produce a lasting agreement. Market watchers caution that sudden developments could trigger the violent price swings seen earlier in the conflict.