Iran-US Ceasefire Triggers One Of Oil’s Largest Single-Day Crashes In History, Crude Down 20%
Last Updated:April 08, 2026, 05:45 IST $26 has been wiped from the price of a barrel in hours- the biggest single-day collapse since Covid destroyed global demand in April 2020. The West Asia conflict, which began on February 28 with US and Israeli strikes on Iran, disrupted global oil supply. Oil crashed 20% on Tuesday,…