On April 15, crude oil prices experienced a decline for the second consecutive day, with Brent crude futures falling 52 cents to $94.27 per barrel and US West Texas Intermediate crude decreasing by $1.04 to $90.24. This drop follows renewed hopes for peace talks between the US, Iran, and Israel, as US President Donald Trump announced discussions could resume in Pakistan. The ongoing conflict has led to the closure of the Strait of Hormuz, a vital route for oil transportation, resulting in significantly reduced traffic. Analysts suggest that while a two-week ceasefire is in place, logistical issues will continue to impact supply. Dilin Wu, a research strategist, noted that oil prices are likely to remain stable with a softer bias, while Anindya Banerjee from Kotak Securities highlighted key price levels to monitor, indicating that any significant recovery in supply may take time. The market is transitioning from a geopolitical risk premium to a more balanced structure, with critical resistance at $105 for both benchmarks.