April 14, 2026

Oil prices swung hard Tuesday as hopes for fresh US-Iran peace talks eased fears of a supply shock, sending Brent down 3.8% to $95.54 and WTI off 6.1% to $92.85 after Monday’s spike above $100. The retreat followed President Trump’s order to blockade Iran’s ports after weekend talks collapsed — then his claim Tehran had reached out for a deal — even as the New York Times reported Iran offered to freeze uranium enrichment for up to five years, a proposal Washington rejected in favor of 20. In a market rattled by war talk and diplomacy alike, the key question is whether tensions keep easing — or snap back fast.

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