The main oil barrel indexes show a 15% average fall, while most markets worldwide, especially Asian markets, are opening up during early trading hours.

Brent crude oil dropped to $93 a barrel after US president’s announcement and Iran’s pledge to reopen strait of Hormuz under its management

Investors relieved by news of two-week ceasefire and temporary reopening of strait of Hormuz

The main oil barrel indexes show a 15% average fall, while most markets worldwide, especially Asian markets, are opening up during early trading hours.

Gas prices also increase, while global stock markets slip back after strong rally on Wednesday

Benchmark U.S. crude was 3.1% higher on Thursday at $97.30 a barrel.

The West Texas Intermediate gained 0.72% to $98.57 per barrel as of 2:37 a.m. ET. Brent crude rose by 0.67% to $96.56 per barrel.