New Delhi, April 14 -- Crude oil prices, which have been reacting sharply to ongoing developments in West Asia, cooled off on Tuesday, 14 April, as expectations rose over a possible second round of talks between the US and Iran to end the month-long war.

The benchmark US crude retreated by $4 to $95 a barrel. Brent crude, the international benchmark, also dropped $2.77 to $96.59 a barrel. In the previous session, both benchmarks closed with gains of up to 4.3% as tensions resurfaced in the region, reigniting supply disruption concerns.

Elevated crude oil prices have already started reflecting in consumer price numbers globally, and experts believe that any easing in prices will depend on how the conflict evolves in the coming weeks.

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