Oil Prices Today: Brent, WTI Rebound as Fragile Iran Ceasefire Leaves Hormuz Choked
HOUSTON, April 9, 2026, 14:59 CDT Oil prices bounced Thursday, recouping some ground after the previous day’s dramatic slide, as traders zeroed in on persistent tensions in the Strait of Hormuz—even with a two-week ceasefire between the U.S. and Iran in place. Brent crude climbed 90 cents, or 1%, trading at $95.65 a barrel, while U.S. West Texas Intermediate surged $3, or 3.2%, to $97.39 by 12:58 p.m. ET. Both benchmarks had earlier spiked past $99 and $102.