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US crude futures fall $4.45 or 3.94% to $108.50/bbl on open

Published by Global Banking & Finance Review

Posted on April 7, 2026

1 min read

· Last updated: April 8, 2026

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US crude futures fall $4.45 or 3.94% to $108.50/bbl on open
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PERTH, April 8 (Reuters) - U.S. West Texas Intermediate crude oil fell in early trade on Wednesday, roughly two hours ahead of U.S. President Donald Trump's deadline for Iran to open the Strait of

US Crude Futures Plunge Nearly 4% to $108.50 with Iran in Focus

Market Reaction to Iran Strait of Hormuz Deadline

Early Trading Activity and Price Movements

PERTH, April 8 (Reuters) - U.S. West Texas Intermediate crude oil fell in early trade on Wednesday, roughly two hours ahead of U.S. President Donald Trump's deadline for Iran to open the Strait of Hormuz.

WTI Crude Price Details

WTI crude dated for May delivery fell $4.45, or 3.94%, to $108.50 per barrel as of 2216 GMT.

Reporting and Editorial Credits

.

(Reporting by Helen Clark; Editing by Chris Reese)

Key Takeaways

  • Crude’s drop reflects heightened geopolitical risk tied to Trump’s ultimatum to Iran on the Strait of Hormuz reopening (lemonde.fr)
  • Prior to the decline, WTI had climbed above $110 amid fears of maritime disruptions and supply constraints (theguardian.com)
  • The wider oil market has remained highly volatile as both sides trade threats while international energy flows hang in the balance (axios.com)

References

Frequently Asked Questions

How much did US crude futures fall in early trade?
US West Texas Intermediate crude futures fell by $4.45, or 3.94%, to $108.50 per barrel.
What was the reason for the drop in US crude futures?
The drop occurred roughly two hours before President Donald Trump's deadline for Iran to open the Strait of Hormuz.
At what price did WTI crude for May delivery trade?
WTI crude for May delivery traded at $108.50 per barrel as of 2216 GMT.
Who reported the news on the crude oil price drop?
The report was written by Helen Clark and edited by Chris Reese.

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