# Brent crude tumbled from around $110 a barrel to below $94 in early trading.

*business · news · 2026-04-08 · The Mirror*

## Key points

- Donald Trump and Iran agreed to a ceasefire just 90 minutes before a US-set deadline.
- Brent crude oil prices dropped sharply from $110 to below $94 per barrel after the deal.
- UK fuel prices remain high despite the oil price drop, increasing pressure on forecourts to lower prices.
- The ceasefire has reduced the immediate risk of escalation and boosted global stock markets.
- Reopening the Strait of Hormuz without Iranian controls is seen as key to further oil price declines.

**Countries:** United States, Iran, United Kingdom

[Read the full story on The Mirror](https://www.mirror.co.uk/money/fuel-prices-could-fall-in-36982492)

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