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Oil prices dip as traders eye possible US-Iran ceasefire extension; natural gas edges up ahead of EIA report.

Market News
15 Apr 2026
FXEmpire
View Source
Neutral
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Oil prices fell as traders focused on a potential two-week extension of the ceasefire between the US and Iran, with WTI oil testing support near $91 and Brent oil hovering around $95 amid ongoing Middle East tensions. Natural gas prices gained slightly, preparing for the upcoming EIA report expected to show increased gas storage. The US crude inventory data showed a slight decline, while gasoline and distillate inventories dropped more than expected. The strategic petroleum reserve also decreased as the US sold oil to ease prices. Market watchers await further developments in US-Iran talks, with Pakistan playing a mediator role, which could influence oil price direction in the near term.

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