On Tuesday, April 14, oil prices fell in Asian trading by 0.8 percent for Brent crude and 1.65 percent for West Texas Intermediate crude, dropping to $98.57 and $97.45 respectively, due to easing concerns over supply risks from the U.S. blockade of the Strait of Hormuz and potential negotiations to end the conflict with Iran. The U.S. military had earlier extended the blockade to the Gulf of Oman and the Arabian Sea, which began on February 28, 2025, following the start of the U.S.-Israel war with Iran.
