Oil Prices Drop as US Weighs Ending Iran Conflict

By News Desk on April 1, 2026

Oil Prices Fall as US Signals End to Iran War Without Hormuz Reopening

Singapore: Oil prices declined in Asian trading today, reversing earlier gains, following reports that the United States may end its military campaign against Iran without reopening the Strait of Hormuz.

Brent crude futures for May fell by $1.22, or 1.08 percent, to $111.56 per barrel after rising by 2 percent earlier in the session. The May contract is set to expire on Tuesday, while the more active June contract stood at $105.76.

US West Texas Intermediate (WTI) crude futures for May dropped by 98 cents, or 0.95 percent, to $101.90 per barrel, after reaching their highest level since 9 March during early trading.

According to a report by The Wall Street Journal, US President Donald Trump told aides he is willing to end the military campaign against Iran even if the Strait of Hormuz remains largely closed, leaving its reopening to a later stage.

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