Oil Price Update

Oil prices were mostly unchanged on Wednesday, 22 April, after an initial rise of around $1 in early Asian trading, as investors evaluated the prospects of US-Iran peace negotiations following Washington’s decision to extend the ceasefire. Brent crude hovered near $98 per barrel after gaining nearly 9% in the previous two sessions, while West Texas Intermediate traded around $89 today. Back home, crude oil prices on the Multi Commodity Exchange (MCX) were down marginally by 0.33% at ₹8,401 per barrel.