Global Oil Prices Dip Slightly to US$97, US-Iran Peace Signals as Trigger
Global oil prices, which had previously surged sharply, are now showing signs of decline. This shift occurs amid emerging hopes for possible dialogue between the United States and Iran to alleviate the conflict that has long unsettled the global energy market.
This situation offers a breath of fresh air for market participants after energy prices had continuously skyrocketed due to geopolitical tensions and supply disruptions. However, even as prices begin to fall, uncertainty lingers because the conflict has not fully subsided.
In early trading on the Asian market, Brent crude oil prices were recorded down by US$1.86 or 1.87% to US$97.50 per barrel, equivalent to approximately Rp1,657 million. Meanwhile, West Texas Intermediate (WTI) crude also weakened by US$2.25 or 2.27% to US$96.83 per barrel, or around Rp1,646 million.
This decline came after signals emerged that dialogue between the United States and Iran remains open, despite previous peace talks hitting a deadlock. Pakistani Prime Minister Shehbaz Sharif even emphasised that efforts to reduce tensions are ongoing.
“Although peace talks in Pakistan reached an impasse over the weekend, Trump managed to slightly temper the oil price surge by rekindling hopes of reaching an agreement,” said market analyst Tim Waterer from KCM Trade, as quoted by CNBC on Tuesday, 14 April 2026.
On the other hand, US President Donald Trump also stated that Iran wants to make a deal, further bolstering market expectations for potential conflict de-escalation.
Previously, oil prices had surged significantly after the US military imposed a blockade on Iranian ports. Brent prices even rose more than 4% and WTI nearly 3% in a single trading session.
The blockade was also extended to cover the Gulf of Oman and the Arabian Sea, exacerbating market concerns over disruptions to global energy distribution. The Strait of Hormuz, a vital route for about 20% of the world’s oil and gas supply, has become a crucial point in this crisis.
Ship tracking data shows that several vessels chose to turn back as the blockade was imposed. Additionally, Iran has threatened to target ports in Gulf region countries in response to the move.