WTI Crude Settles at $94.41 — Biggest Single-Day Drop Since April 2020

April 9, 2026 — WTI Crude Settles at $94.41 — Biggest Single-Day Drop Since April 2020.

Historic Market Crash

West Texas Intermediate crude settled at $94.41 per barrel on April 8, plunging 16.4% in the largest single-day decline since the pandemic crash of April 2020. Brent crude fell 13.3% to $94.75. The crash was triggered by the ceasefire announcement, which unwound the massive geopolitical risk premium that had pushed crude above $112 during the five weeks of conflict. However, prices partially recovered on April 9 as markets digested the reality that the Strait of Hormuz remains effectively blocked and the ceasefire's durability is uncertain.