US crude oil prices rose again after a steep drop triggered by the announcement of a ceasefire between the United States and Iran. On Wednesday, US President Donald Trump declared a two-week ceasefire with Iran, which initially caused oil prices to fall sharply. As the market began to stabilize later, prices recovered moderately.

According to the report, West Texas Intermediate (WTI) crude futures increased by $2.68, or 2.84 percent, reaching $97.09 per barrel at 22:18 GMT. Earlier in the day, global stock markets surged on the ceasefire news, while oil prices dropped nearly 14 percent to around $95 per barrel, at one point falling as low as $90.40.

The report indicates that the oil market showed signs of recovery after the initial reaction to the ceasefire announcement, suggesting a gradual return to stability.