Oil prices drop: Brent at $95, WTI at $91 on hopes for Mideast peace deal - stocks rise

15/04/2026 02:26 AST

Oil prices tumbled early on Wednesday on rekindled hopes for a deal to end the Middle East war and reopen the Strait of Hormuz.

The retreat in crude reflected a sharp unwind in the war risk premium, with Brent and WTI both under pressure as investors priced in less chance of a wider regional conflict.

Oilprice.com's latest chart showed WTI crude at $91.25/barrel and Brent at $94.79/barrel (as of 8.47am Tokyo), both down from the previous session, underscoring how quickly sentiment can shift when diplomacy appears to gain traction.

Wall Street's major indexes rose on Tuesday (April 14); European and Asian markets, led by Nikkei, also advanced early on April 15, 2026.

European equity markets also rose, although London advanced only 0.3 percent as the retreat in Brent Crude to below $95 a barrel weighed on the shares of energy majors BP and Shell.

Japan's Nikkei opened higher on Tuesday, after leading stock markets closed Tuesday with sizeable gains, while the dollar, seen as a haven in times of market turmoil, dropped against its main rivals.

With inputs from AFP

Progress in Lebanon-Israel talks
Investors greeted US-mediated talks in Washington that set a plan for direct negotiations between Israel and Lebanon.

The United States is pressing for a halt to the conflict between Israel and Hezbollah, fearing it could derail the two-week ceasefire in Washington's war with Iran after talks with Tehran in Pakistan failed to achieve a breakthrough.

The progress on Lebanon-Israel helped US equities extend Monday's rise after President Donald Trump said he had been contacted by Iran officials eager for a deal. Surging oil prices are weighing on demand.

Key figures at 2020 GMT
Brent North Sea Crude: DOWN 4.6 percent at $94.79 a barrel

West Texas Intermediate: DOWN 7.9 percent at $91.28 a barrel

New York - Dow Jones: UP 0.7 percent at 48,535.99 (close)

New York - S&P 500: UP 1.2 percent at 6,967.38 (close)

New York - Nasdaq Composite: UP 2.0 percent at 23,639.08 (close)

London - FTSE 100: 0.3 percent at 10,609.06 (close)

Paris - CAC 40: UP 1.1 percent at 8,327.86 (close)

Frankfurt - DAX: UP 1.3 percent at 24,044.22 (close)

Tokyo - Nikkei 225: UP 2.4 percent at 57,877.39 (close)

Hong Kong - Hang Seng Index: UP 0.8 percent at 25,872.32 (close)

Shanghai - Composite: UP 1.0 percent at 4,026.63 (close)

Euro/dollar: UP at $1.1797 from $1.1759 on Monday

Pound/dollar: UP at $1.3564 from $1.3506

Dollar/yen: DOWN at 158.84 yen from 159.45 yen

Euro/pound: DOWN at 86.93 pence from 87.06 pence

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