Brent Drops to $98.74 as Oil Prices Slide on Iran Talk Prospects

By News Desk on April 14, 2026

London: Oil prices declined today amid indications of a possible resumption of talks between the United States and Iran, raising expectations of easing geopolitical tensions in the Middle East.

Brent crude futures fell by 62 cents, or 0.6 percent, to $98.74 per barrel, while US West Texas Intermediate (WTI) crude dropped by $2.30, or 2.3 percent, to $96.78 per barrel as of 08:28 GMT.

Both benchmarks had recorded significant gains in the previous session, with Brent rising by more than 4 percent and WTI by about 3 percent, following reports of a US military blockade on Iranian ports.

Oil prices have increased by nearly 50 percent over the past month, reaching record levels amid heightened geopolitical tensions.

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