Oil prices experienced a decline on April 21, with Brent crude futures falling 95 cents to $94.53 and U.S. West Texas Intermediate crude dropping $1.54 to $88.07. This movement comes amid ongoing tensions between the U.S. and Iran, despite hopes for upcoming peace talks. A senior Iranian official indicated Tehran's willingness to join negotiations in Pakistan, although recent actions by Iran have raised concerns about supply disruptions in the Strait of Hormuz, a critical energy route. Analysts from Macquarie suggest that even if tensions ease, oil prices may remain supported within the $85 to $90 range, with potential spikes up to $150 if disruptions continue. The market is currently navigating a phase of structurally higher prices, with a gradual return to pre-conflict levels expected to take time.