Oil Rebounds After Truce Gets Off to Shaky Start -- WSJ

Dow Jones04-09
 

By Caitlin McCabe

The cease-fire trade is already fading.

Global stocks are dipping and oil prices are climbing again, as questions build about the stability of the U.S.-Iran truce. Israel's deadly attacks in Lebanon are threatening to derail the deal, as are continuing difficulties for tankers seeking to transit the Strait of Hormuz. Iran told mediators it would limit the number of ships crossing the waterway to around a dozen a day and charge tolls.

Those stumbling blocks have zapped the momentum out of Wednesday's relief rally. Brent is clawing losses this morning, rising around 4% to over $98 a barrel.

U.S. stocks are modestly lower, with the Dow industrials leading declines; the 10-year Treasury yield is largely flat. European bond yields are on the rise again, as traders continue to bet on interest-rate increases in the region this year.

The Federal Reserve's preferred inflation gauge showed prices stayed high in February, though it doesn't reveal much about pricing pressures from the war.

Write to Caitlin McCabe at caitlin.mccabe@wsj.com

 

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April 09, 2026 09:42 ET (13:42 GMT)

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