Oil prices ease on hopes of new US-Iran peace talks
APRIL 14 - Oil prices dipped on Tuesday as hopes of more peace talks between the US and Iran eased concerns about further disruptions to energy supplies. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Oil prices eased on Tuesday as hopes of new peace talks between the US and Iran emerged following President Donald Trump's announcement that Tehran had contacted Washington about a potential agreement.
- Global benchmark Brent crude fell by about 1% to $98.40 a barrel.
- President Donald Trump suggested a potential deal after negotiations failed over the weekend.
- Discussions in Pakistan proposed suspending Iran's nuclear activity, but an agreement remains distant.
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Global economy at risk of recession if Iran war persists - April 2026
The International Monetary Fund warned that the global economy faces a recession risk if the war with Iran persists, leading to sustained high energy prices. Oil prices eased on Tuesday as hopes of new peace talks between the US and Iran emerged following President Donald Trump's announcement that Tehran had contacted Washington about a potential agreement. Britain's total retail sales saw a significant increase of 3.6 percent year-on-year in March, driven by robust food sales according to the British Retail Consortium. Separately, the Kenyan government is partnering with private sector investors to establish a strategic petroleum reserve in Mombasa, aiming to enhance energy security and mitigate the impact of global supply shocks.
