Morning of April 15, Asian oil prices went down

Specifically, Brent crude futures fell 0.25% to $90.21 a barrel, while US WTI light sweet crude fell 0.35% to $85.36 a barrel.

Asian markets are struggling to find direction after weekend developments in the Middle East, observers said.

On April 13, Iran launched a drone and missile attack on Israel. UN Secretary-General Antonio Guterres and many countries expressed concern about the attack, calling on all parties to end hostilities and exercise maximum restraint to avoid actions that lead to large-scale military confrontation on many fronts in the Middle East. During the session on April 12, Brent oil prices jumped to 92.18 USD/barrel, the highest level since October.

Continued signs of a US economic recovery and a higher-than-expected inflation report last week have prompted investors to adjust their forecasts for the pace and scale of interest rate cuts by the US Federal Reserve this year.

Commonwealth Bank of Australia economist Kristina Clifton has pushed back her forecast for the start of the Fed's rate-cutting cycle to September 2024, from July.

A series of Fed policymakers, including Chairman Jerome Powell, are due to speak this week, which could provide more clarity on the future path of U.S. interest rates.