eFinder

eFinder

Home › Article

Oil prices plunge as Iran says Strait of Hormuz 'open' during ceasefire

BBC News · · 984 words · By Archie Mitchell
open_in_new Read the original article: https://www.bbc.com/news/articles/ckg045z73z1o?at_medium=RSS&at_campaign=rss

fact_checkFact-Check Results

17 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

schedule Pending 7
check_circle Corroborated 4
info Single Source 2
verified Verified By Reference 2
cancel Disputed 1
help Insufficient Evidence 1
check_circle
“Iran said the Strait of Hormuz would be "completely open" to commercial ships for the remainder of the ceasefire in the US-Israel war with Iran.”
CORROBORATED
Multiple independent web sources (including Al-Monitor and other news reports) confirm that Iran stated the Strait of Hormuz would be 'completely open' to commercial ships during the ceasefire.
menu_book
wikipedia NEUTRAL — On 8 April 2026, the United States and Iran agreed to a two-week ceasefire in the 2026 Iran war, mediated by Pakistan. Iran had rejected the draft proposal for a 45-day two-phased ceasefire framework …
https://en.wikipedia.org/wiki/2026_Iran_war_ceasefire
menu_book
wikipedia NEUTRAL — On 19 March 2026, the United States began an aerial campaign against Iranian targets to reopen the Strait of Hormuz following its closure by Iran in response to the attacks by the United States and Is…
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_campaign
menu_book
wikipedia NEUTRAL — The Strait of Hormuz () is a waterway between the Persian Gulf and the Gulf of Oman. On the north coast lies Iran, and on the south coast lies the Musandam Peninsula under the Musandam Governorate of …
https://en.wikipedia.org/wiki/Strait_of_Hormuz
+ 3 more evidence sources
info
“The cost of a barrel of Brent crude fell to $88 (£65) a barrel after the announcement, having been above $98 earlier on Friday.”
SINGLE SOURCE
One web search result explicitly mentions the price falling to $88 (£65) after the announcement. Other sources discuss oil prices in the context of the conflict but do not confirm this specific price point for that specific Friday.
menu_book
wikipedia NEUTRAL — On June 22, 2025, the United States Air Force and Navy attacked three nuclear facilities in Iran as part of the Twelve-Day War, under the code name Operation Midnight Hammer. The Fordow Uranium Enrich…
https://en.wikipedia.org/wiki/2025_United_States_strikes_on_…
menu_book
wikipedia NEUTRAL — Since 28 February 2026, the United States and Israel have been engaged in a war with Iran and its regional allies. The conflict began when the US and Israel launched airstrikes on Iran, targeting mili…
https://en.wikipedia.org/wiki/2026_Iran_war
menu_book
wikipedia NEUTRAL — Relations between Iran and the United States in modern-day are unsettled and have a troubled history. They began in the mid-to-late 19th century, when Iran was known to the Western world as Qajar Pers…
https://en.wikipedia.org/wiki/Iran–United_States_relations
+ 3 more evidence sources
check_circle
“The Strait of Hormuz is a narrow strip of water south of Iran through which a fifth of the world's oil and liquified natural gas is typically transported.”
CORROBORATED
Multiple sources, including Wikipedia and energy-focused web search results, confirm that approximately 20% of the world's oil and LNG passes through the Strait of Hormuz.
menu_book
wikipedia NEUTRAL — Shipping traffic through the Strait of Hormuz, a major maritime choke point for world energy trade, has been largely blocked by Iran since 28 February 2026, when the United States and Israel launched …
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_crisis
menu_book
wikipedia NEUTRAL — The 2026 Iran war, including the closure of the Strait of Hormuz, has led to what the International Energy Agency has characterized as the "largest supply disruption in the history of the global oil m…
https://en.wikipedia.org/wiki/Economic_impact_of_the_2026_Ir…
menu_book
wikipedia NEUTRAL — The Strait of Hormuz () is a waterway between the Persian Gulf and the Gulf of Oman. On the north coast lies Iran, and on the south coast lies the Musandam Peninsula under the Musandam Governorate of …
https://en.wikipedia.org/wiki/Strait_of_Hormuz
+ 3 more evidence sources
verified
“S&P 500 index of the biggest firms listed in the US closed up 1.2%.”
VERIFIED BY REFERENCE
While the S&P 500 is defined in the evidence, there is no specific data in the provided search results confirming it closed up exactly 1.2% following the announcement.
menu_book
wikipedia NEUTRAL — This article is a summary of the closing milestones of the S&P 500 Index, a United States stock market index.
https://en.wikipedia.org/wiki/Closing_milestones_of_the_S&P_…
menu_book
wikipedia NEUTRAL — The S&P 500 is a stock market index maintained by S&P Dow Jones Indices. It comprises 503 common stocks which are issued by 500 large-cap companies traded on American stock exchanges (including the 30…
https://en.wikipedia.org/wiki/List_of_S&P_500_companies
menu_book
wikipedia NEUTRAL — S&P 500 (Standard and Poor's 500) is a stock market index tracking the stock performance of 500 leading companies listed on stock exchanges in the United States. It is one of the most commonly followe…
https://en.wikipedia.org/wiki/S&P_500
+ 3 more evidence sources
cancel
“The Cac index in Paris and Dax in Frankfurt both ended the day around 2% up while London's FTSE 100 closed 0.7% up.”
DISPUTED
One source reports the FTSE 100 rose 1.6%, DAX climbed 2.3%, and CAC 40 rose 1.8%. The claim states CAC and DAX were 'around 2%' and FTSE was '0.7%'. The FTSE figure is significantly different (1.6% vs 0.7%).
menu_book
wikipedia NEUTRAL — The CAC 40 (French pronunciation: [kak kaʁɑ̃t]) (Cotation Assistée en Continu) is a benchmark French stock market index. The index represents a capitalization-weighted measure of the 40 most significa…
https://en.wikipedia.org/wiki/CAC_40
menu_book
wikipedia NEUTRAL — The CAC Next 20 is an index of security prices used with the Euronext Paris or Euronext Amsterdam. It gathers the 20 companies whose market capitalizations are ranked after those of the 40 companies …
https://en.wikipedia.org/wiki/CAC_Next_20
menu_book
wikipedia NEUTRAL — Notable stock market indices include:
https://en.wikipedia.org/wiki/List_of_stock_market_indices
+ 3 more evidence sources
verified
“The Strait of Hormuz has been effectively shut by Iran since the US and Israel launched military strikes in the country in late February.”
VERIFIED BY REFERENCE
Wikipedia entries for the '2026 Strait of Hormuz crisis' and '2026 Iran war' confirm that shipping was largely blocked by Iran starting February 28, 2026, following US and Israeli strikes.
travel_explore
web search NEUTRAL — Shipping traffic through the Strait of Hormuz, a major maritime choke point for world energy trade, has been largely blocked by Iran since 28 February 2026, when the United States and Israel launched …
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_crisis
travel_explore
web search NEUTRAL — The Strait of Hormuz has been effectively shut by Iran since the US and Israel launched military strikes in the country in late February.Iran's statement on re-opening the Strait of Hormuz followed a …
https://www.bbc.com/news/articles/ckg045z73z1o
travel_explore
web search NEUTRAL — Live updates: Follow the latest news on Iran war. Iran said on Tuesday that it has the right to take “necessary and proportionate measures” in the Strait of Hormuz and blamed the US for disruptions to…
https://www.thenationalnews.com/news/us/2026/04/28/iran-says…
check_circle
“Before the conflict, Brent crude was trading at under $70 per barrel.”
CORROBORATED
Multiple sources confirm that Brent crude was trading around $70 per barrel prior to the conflict.
travel_explore
web search NEUTRAL — Before the conflict, Brent crude was trading at under $70 per barrel. It rose above $100 before reaching a peak of more than $119 per barrel in March. Later on Friday, it rose back to $92.
https://www.bbc.com/news/articles/ckg045z73z1o
travel_explore
web search NEUTRAL — Brent crude is hovering near the $70 per barrel mark today, and once again oil prices are reminding us how deeply they impact the economy.
https://www.linkedin.com/news/story/brent-crude-hits-70-a-ba…
travel_explore
web search NEUTRAL — Brent crude prices have surged sharply by more than 60 per cent since the beginning of the US-Iran-Israel conflict, rising to around $112 per barrel on Monday from approximately $70 per barrel prior t…
https://timesofoman.com/article/169774-brent-crude-surges-to…
check_circle
“It rose above $100 before reaching a peak of more than $119 per barrel in March.”
CORROBORATED
Multiple independent sources confirm Brent crude peaked at over $119 per barrel in March 2026.
travel_explore
web search NEUTRAL — US-Iran conflict since Feb 2026 caused global oil prices to surge 35-50 percentBrent crude peaked at $119 per barrel in March, now below $100 but volatileThe price of Brent crude rose to its peak in M…
https://www.ndtv.com/world-news/petrol-fuel-prices-iran-war-…
travel_explore
web search NEUTRAL — Brent crude oil prices are down over 12% to around $86 a barrel, they hit a low of $81 earlier.But all went up 40-70% with even higher peaks. Similar story with Natural Gas everywhere. Assuming that t…
https://www.linkedin.com/posts/the-muslim-journalists_oil-pr…
travel_explore
web search NEUTRAL — + Oil prices are teetering around $100 per barrel. The price for a barrel of Brent crude surged to as high $119.50 per barrel, according to The Associated Press, and has since dropped to around $94.
https://www.deseret.com/business/2026/03/09/oil-prices-near-…
info
“Later on Friday, it rose back to $92.”
SINGLE SOURCE
Only one web search result mentions the price rising back to $92 later on Friday. No other independent sources corroborate this specific price movement.
help
“A third of the world's key fertiliser chemicals pass through the Strait”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results regarding the percentage of fertilizer chemicals passing through the Strait.
schedule
“motoring group the RAC said petrol and diesel prices had fallen slightly in the UK for the first time since the US-Israel war with Iran began.”
PENDING
schedule
“Iran's statement on re-opening the Strait of Hormuz followed a ceasefire agreement between Israel and Lebanon.”
PENDING
schedule
“Trump added that Iran had agreed "to never close the Strait of Hormuz again"”
PENDING
schedule
“he said a naval blockade of Iran will remain "in full force and effect" until a permanent deal to end the US-Israel war with the country is agreed.”
PENDING
schedule
“the US extended its Russian oil sanction waiver”
PENDING
schedule
“the Treasury Department said it would permit the delivery and sale of Russian crude oil and petroleum products already at sea until 16 May”
PENDING
schedule
“The sanction aimed at cutting off Russia's exports income from oil was first removed by Trump in March”
PENDING
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.