Oil Prices Rise Again as Iran's Accusations Against the US Spark Supply Concerns

JAKARTA, KOMPAS.com - Global oil prices strengthened again on Thursday (9 April 2026). The increase was triggered by Iran’s accusations against the United States regarding violations of the ceasefire agreement. This situation has sparked market concerns over potential disruptions to global energy supplies. Citing CNBC, Brent crude for the June contract rose 2.08% to $96.83 per barrel. West Texas Intermediate crude for the May contract strengthened 2.86% to $97.27 per barrel. The Dow Jones Industrial Average index rose 1,325.46 points or 2.85% to 47,909.92. The S&P 500 strengthened 2.51% to 6,782.81. The Nasdaq Composite rose 2.80% to 22,635.00. The stock market gains were triggered by the sharp drop in oil prices the previous day. WTI oil had fallen 16.41% to $94.41 per barrel. Brent oil also dropped 13.29% to $94.75 per barrel. Despite the decline, prices remained higher than pre-conflict levels. Trump stated that the ceasefire was adopted after receiving a proposal from Iran. The agreement hinges on the reopening of the Strait of Hormuz. “I agree to suspend bombing and attacks against Iran for a two-week period,” Trump wrote. “We have received a 10-point proposal from Iran and assess it as a workable basis for negotiations,” he explained. Market participants are still monitoring the sustainability of the agreement. The risk of escalation remains high. “It is not too surprising that there is an announced pause in the Iran conflict. The market is now increasingly adept at reading Trump’s next moves,” said Jay Woods, Head of Market Strategy at Freedom Capital Markets. “The current concern is whether this very familiar ‘two-week’ timeframe will truly lead to a resolution,” he continued. Market sentiment is also influenced by plans for cooperation on securing nuclear materials. Discussions on tariffs and easing sanctions are also under attention.