2026.04.1020:11:21UTC+00Oil Drops on Mideast talks

Oil prices fell 1.9% on Friday, with WTI crude trading near $95.9 per barrel, as markets reacted to evolving geopolitical dynamics and ongoing negotiations in the Middle East. The decline occurred against a backdrop of persistent uncertainty over US–Iran talks, with traders balancing prospects for de-escalation against enduring risks to regional stability. Concerns about potential disruptions to shipping through the Strait of Hormuz continued to underpin a geopolitical risk premium in crude, even as fears of immediate supply interruptions remained contained. Despite the daily pullback, oil prices are still up 10.28% over the period, underscoring the market’s continued sensitivity to geopolitical developments and supply-side risk factors.