A Lebanon Ceasefire and Potential Iran Peace Talks Push Oil Prices Down

OilPrice · Josh Owens · last updated April 16, 2026 – 6:23 PM

Oil prices were once again under pressure in early Asian trade as a 10-day ceasefire between Israel and Lebanon came into effect and President Trump suggested talks with Iran may resume this weekend. At the time of writing, WTI was trading at $93.26, down 1.51%, while Brent had fallen 1.03% to $98.37. Both benchmarks remained significantly below the triple-digit levels they had spiked to at the start of the week after the last round of talks broke down. The ceasefire between Israel and Lebanon, which came into effect at midnight local time,…

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