International oil prices hold decline near pre war levels on Friday morning in Asia amid signs of progress in US and Iran conflict. President Donald Trump reportedly said negotiations with Iran were progressing well after mediators from Qatar and Pakistan held separate meetings with US and Iranian officials in Doha on Wednesday. steady recovery of commercial shipping through the Strait of Hormuz is also seen stabilizing oil prices. Simultaneously, the United Arab Emirates has managed to bring its oil exports entirely back to pre-war volumes, as per reports. WTI crude oil futures are seen trading at $69.02 per barrel this morning.

Powered by Commodity Insights