Oil prices fell on Friday following a statement by U.S. President Donald Trump that he is engaged in “constructive talks” with Iran and that he would not attack the Middle Eastern country before the U.S. midterm elections in November, which eased concerns about oil supply from the Middle East.
Brent crude oil futures are down 1.1%, to $103.09 per barrel, while U.S. crude futures are also down 1.1% to $90.55 per barrel.
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Oil prices rose significantly on Thursday following reports that the U.S. may launch new attacks against Iran ahead of the midterm elections.
On a weekly basis, the price of Brent crude has risen slightly, while that of U.S. crude has fallen slightly.
Source: CNA
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