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Singapore, March 27 (QNA) – Oil prices eased in early Asian trade on Friday, as markets reassessed geopolitical risk amid signs of potential de-escalation in the Middle East, after US President Donald Trump signaled progress in talks with Iran and a reported delay to possible strikes on its energy facilities.
Brent crude futures fell 90 cents, or 0.8%, to $107.11 a barrel, while US West Texas Intermediate (WTI) crude declined 83 cents, or 0.88%, to $93.65 a barrel, paring gains from the previous session.
The pullback follows a sharp rally on Thursday, when Brent surged 5.7% and WTI climbed 4.6% on fears of further escalation in the conflict and potential disruptions to regional energy supplies.
Despite the previous session’s gains, both benchmarks remain on track to post weekly losses, as easing geopolitical tensions and prospects of diplomatic progress weigh on sentiment. (QNA)
