Crude oil futures end lower as US-Iran peace talks may resume
U.S. President Donald Trump indicated a second round of discussions with Iran could happen in the coming days
Crude oil futures closed lower Tuesday following hopes of a resumption of U.S.-Iran peace talks, after U.S. President Donald Trump indicated a second round of discussions with Iran could happen in the coming days. Meanwhile, the IEA expects global oil demand to decline this year for the first time since the 2020 pandemic, as elevated prices curb consumption. Besides, the API reported that a rise of 6.1 million barrels in U.S. crude inventories in the week ended April 10, 2026, marking the eighth consecutive increase.
Benchmark crude oil futures for May delivery declined by $7.80 or 7.87% to settle at $91.28 a barrel on the New York Mercantile Exchange. Brent crude for June delivery fell by $4.57 or 4.60% to settle at $94.79 a barrel on London's Intercontinental Exchange.
