Foreign: Oil prices fell in early trading on Friday on optimism that the Middle East conflict may be nearing an end after a 10-day ceasefire between Lebanon and Israel came into effect and US President Donald Trump said the United States and Iran could meet for talks over the weekend.
According to The Economic Times published on April 17, 2026, Brent crude fell $1.34, or 1.35%, to $98.05 a barrel. U.S. West Texas Intermediate crude fell $1.65, or 1.74%, to $93.40 a barrel, paring gains from the previous session.
Oil prices rose 50% in March, a record, and have just fallen below $100 a barrel but remain in the $90 range for the week.
Claiming a major stalemate in talks to end the Iran war that has blocked the Strait of Hormuz for seven weeks and cut off about a fifth of the world’s oil supplies, Trump said Tehran has offered to not have nuclear weapons for more than 20 years.
Translated by Nay Tola
