Oil Drops for Second Day Amid Prospects of Renewed Iran Talks

By News Desk on April 15, 2026

Tokyo: Oil prices declined for a second consecutive session today amid expectations of renewed talks between the United States and Iran, which could lead to the return of crude supplies from the Middle East.

Brent crude futures fell 52 cents, or 0.55 percent, to $94.27 per barrel, extending losses from the previous session. US West Texas Intermediate crude dropped $1.04, or 1.1 percent, to $90.24.

Market sentiment was influenced by prospects of diplomatic developments following indications that talks could resume soon, after earlier negotiations collapsed and tensions escalated.

The ongoing situation has affected the Strait of Hormuz, a key route for global oil shipments, with uncertainty continuing despite a ceasefire.

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