Oil prices continue to fall amid hopes for new US-Iran ceasefire deal

WorldBusiness & Finance
17 Apr 2026 • 1:26 PM MYT
The Independent
The Independent

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  • Asian stock markets saw declines on Friday, as investors closely monitored developments regarding a potential extension of the US-Iran ceasefire.
  • US President Donald Trump suggested he is open to extending the two-week ceasefire in the Iran war, with Iran's UN envoy expressing “cautious optimism“ about negotiations.
  • Oil prices fell on Friday amid growing optimism for an extended ceasefire, despite ongoing global energy shocks and warnings of jet fuel shortages in Europe.
  • Wall Street set new record highs on Thursday, with the S&P 500, Dow Jones Industrial Average, and Nasdaq composite all closing higher.
  • Shares of PepsiCo and J.B. Hunt Transport Services rose after reporting better-than-expected quarterly results, while gold and silver prices also increased.

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