# Oil prices bounced back after suffering its biggest one-day drop of more than 13% since April 2020.

*business · news · 2026-04-09 · Benzinga*

## Key points

- Oil prices rebounded after a 13% drop, driven by ongoing supply fears and Strait of Hormuz disruptions.
- The Strait of Hormuz remains closed despite a two-week ceasefire, causing operational and security constraints.
- USO and BNO ETFs rose 0.6% after hours following a nearly 10% drop during normal trading.
- Iran accused the U.S. of breaching the ceasefire, increasing distrust and geopolitical uncertainty.

**Countries:** United States, Iran, Israel

[Read the full story on Benzinga](https://www.benzinga.com/etfs/broad-u-s-equity-etfs/26/04/51722399/iran-ceasefire-doubts-hormuz-oil-volatility-etfs-to-watch)

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