Oil prices fall after the two-week ceasefire announcement by Donald Trump

Oil contracts Brent curde oil oil fell by 14.51, or 13.3%, reaching 94.76 dollars in barrels at 3:30 GMT, while West Texas Intermediate (WTI) dropped $17, or 15.2%, to $99 per barrel.

The change of Trump's stance came just before the deadline he had set for Iran to open the Hormuz Strait, through which it exceeds about 20% of world oil, or face widespread attacks on its civilian infrastructure.

This is going to be an ARPUSHIM from both sides! ” wrote on social networks, since earlier Tuesday he had posted that “an entire civilization will die tonight” if its demands were not met.

Iran said it would prevent his attacks if the attacks against him were halted and that the safe passage through the Hormuz Strait would be possible for two weeks, in co-ordination with the Iranian Armed Forces, according to a statement by Foreign Minister Abbas Aracchi.

However, some Gulf states reported missile launchers and intimidation attacks or issued warnings for civilians to seek refuge.

“Even with a peace agreement, Iran may feel more encouraged to threaten the future Hormuz Strait more often, and the market will continue to include at the price of increased risk for this strait,” analyst Saul Kavonic said by MST Marquee.

The US-Israel War against Iran brought the largest monthly increase in oil prices in history, over 50% in March.

“Ende has the possibility that a large geopolitical premium in oil prices will remain for a long time, depending on the details of the comprehensive deal,” said Komonweek Bank of Australia analyst Vivek Dhar.

Trump said the US had received a 10-point proposal from Iran, which it called a applicable basis for negotiations, and that the parties are very close to a final long-term peace agreement.

The “is a good start and can pave the way for a more permanent reopening, but there is still a lot of uncertainty,” analyst Tony Sycamore from the IG Group said.

The WTI has maintained the price advantage of Brant, overturning the typical price model because the WTI surrender contract is for May, while the one for Brent is for June, reflecting on the fact that nearest barrels are being sought at higher prices.