Oil prices dropped below $95 as traders focused on a potential reopening of the Strait of Hormuz and signs of weakening demand.
Oil prices fell sharply early Wednesday as renewed hopes for ending the Middle East conflict and reopening the Strait of Hormuz reduced market fears.
The decline reflected a rapid unwinding of the war risk premium, with both Brent and WTI coming under pressure as investors saw lower chances of a broader regional escalation.
According to Oilprice.com, WTI crude dropped to $91.25 per barrel and Brent to $94.79 per barrel (as of 8:47 a.m. Tokyo), highlighting how quickly sentiment can shift when diplomatic progress seems possible.
Meanwhile, global equities moved higher—Wall Street’s major indexes rose on Tuesday (April 14), and European and Asian markets, led by the Nikkei, also advanced early on April 15, 2026.
European equity markets also moved higher, though gains in London were modest at just 0.3%, as Brent crude slipping below $95 a barrel pressured shares of energy giants BP and Shell.
Japan’s Nikkei opened higher on Tuesday, following strong gains across major global stock markets, while the dollar—typically viewed as a safe-haven during periods of market stress—declined against its major peers.
Progress in Lebanon–Israel talks
Investors welcomed US-mediated discussions in Washington that established a framework for direct negotiations between Israel and Lebanon.
The United States is pushing to halt the conflict between Israel and Hezbollah, concerned it could jeopardize the fragile two-week ceasefire in its standoff with Iran after talks with Tehran in Pakistan failed to yield a breakthrough.
Progress in Lebanon–Israel negotiations helped US equities build on Monday’s gains, after President Donald Trump said Iranian officials had reached out expressing interest in a deal. Meanwhile, elevated oil prices continue to weigh on demand.
Key figures at 20:00 GMT
Brent North Sea Crude: down 4.6% at $94.79 per barrel
West Texas Intermediate: down 7.9% at $91.28 per barrel
New York – Dow Jones: up 0.7% at 48,535.99 (close)
New York – S&P 500: up 1.2% at 6,967.38 (close)
New York – Nasdaq Composite: up 2.0% at 23,639.08 (close)
London – FTSE 100: up 0.3% at 10,609.06 (close)
Paris – CAC 40: up 1.1% at 8,327.86 (close)
Frankfurt – DAX: up 1.3% at 24,044.22 (close)
Tokyo – Nikkei 225: up 2.4% at 57,877.39 (close)
Hong Kong – Hang Seng Index: up 0.8% at 25,872.32 (close)
Shanghai – Composite: up 1.0% 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
