Oil Prices Decline as Markets Assess Peace Prospects Between Washington and Tehran Following Truce Extension

 Oil prices witnessed a notable decline in today's trading, Wednesday, April 22, 2026, following an initial upward trend in Asian markets. Brent crude futures fell to settle at $98.27 per barrel, while West Texas Intermediate (WTI) dropped to $89.39. This decrease comes as investors move to assess the success chances of upcoming peace talks between the United States and Iran, following Washington's decision to extend the ceasefire, which eased concerns over disruptions to vital supplies through the Strait of Hormuz amidst relative stability in the region.