Apr 8, 2026
mixedTrump Declares 2-Week Iran Ceasefire: WTI Oil Crashes 15% to $95.75, Airlines Surge as Markets Whipsaw
President Trump declared a 2-week suspension of US military operations against Iran on April 8, 2026, following a 10-point peace proposal brokered through Pakistani intermediaries. WTI crude oil immediately crashed 15% from $112 to $95.75 per barrel while US equity index futures initially surged 3% before fading to flat. Airlines led all sectors, with United Airlines surging 13.3% and Delta reporting a Q1 2026 earnings beat on the same morning.