Centrica PLC (LSE:CNA)<\/a>, which is less directly tied to upstream crude prices but still moves with broader energy sentiment, was down 3.25% at 211.60p.<\/p>\nThe sell-off came as crude gave back a chunk of its recent war premium, with Brent easing more than 16% to around US$91\u00a0a barrel\u00a0while WTI slid roughly 16% to just above US$94 after US president Donald Trump said a ceasefire had been agreed, subject to Iran allowing the \u201ccomplete, immediate, and safe\u201d reopening of the Strait of Hormuz.<\/p>\n
Tamas Varga, analyst at PVM Oil Associates, called the reaction \u201ctextbook\u201d, saying equities\u00a0were broadly staging a relief rally while oil went \u201cinto freefall\u201d on expectations that 10-13 million barrels per day of crude and product supply stranded behind the Strait could gradually return. He added that the current quarter still looks set to be the tightest period for oil balances, and said a return to sub-US$70 crude remains unlikely over the next year or two because the geopolitical risk premium should stay elevated.<\/p>\n
Elsewhere, stockbroker Shore Capital similarly expects relatively high crude to remain a feature in the market. Analyst James Hosie added: “Even if this ceasefire becomes a more lasting peace agreement, we do not expect oil and gas prices to return to their pre-conflict levels as it will take time for industry operations in the Persian Gulf to normalise.”<\/p>\n","protected":false},"excerpt":{"rendered":"BP, Shell and Centrica drop with crude in wake of new Iran ‘ceasefire’ Proactive uses images sourced from…\n","protected":false},"author":2,"featured_media":42619,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21198],"tags":[7077,67,6704,5789,7275,21570,8824,24,1150,1146],"class_list":["post-42618","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bp","tag-oil-prices","tag-bp","tag-bp-plc","tag-bp-shares","tag-ceasefire","tag-centrica","tag-crude-prices","tag-iran","tag-shell","tag-strait-of-hormuz"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116609074377602919","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/42618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=42618"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/42618\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/42619"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=42618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=42618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=42618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"BP,](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/05\/0da09cf2bbfbcce775202637f6359f0e.jpeg\")
BP, Shell and Centrica drop with crude in wake of new Iran ‘ceasefire’ Proactive uses images sourced from Shutterstock <\/p>\n