Oil falls below $100 and shares jump on hopes Iran war will end soon - April 2026

Oil prices have fallen below $100 a barrel and Asian shares have surged following President Donald Trump's statement that the US will withdraw from Iran in two to three weeks, irrespective of a deal. South Africa has announced significant fuel price hikes effective midnight, with petrol and diesel set to rise sharply due to escalating global oil prices and a weakening rand. In a separate development, a crucial deal between the Kenyan government and Saudi Arabian firm Saudi Aramco to supply cheaper cooking gas has collapsed, delaying plans to expand the country's liquefied petroleum gas (LPG) infrastructure and lower prices.

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Wednesday 11:39 AMCapital Business

Oil falls below $100 and shares jump on hopes Iran war will end soon

Oil prices have fallen below $100 a barrel and Asian shares have surged following President Donald Trump's statement that the US will withdraw from Iran in "two to three weeks," irrespective of a deal.