The BP (LSE: BP.) share price is under heavy pressure today (8 April), sliding 8% in early trading as oil markets reacted to signs of de-escalation in the Middle East and improved supply security through the Strait of Hormuz. But after such a powerful rally, is this the moment sentiment flips — or the moment long-term investors step in?

Time to sell?

A ceasefire between Iran and the US was always likely at some point. It was never realistic to assume oil tankers could be blocked indefinitely. The real question for investors is whether this changes the BP investment case.

In my view, it does not. On the surface, the 8% fall in the share price reflects a sharp unwind in oil prices as…