Oil prices drop as Trump’s decision to call off Iran strike eases market fears

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Oil prices drift lower, continuing a downward trend that began a day earlier, when Trump called off a planned military strike on Iran, according to AlJazeera.

Brent crude oil futures fell $1.21, or 1.3 per cent, to $89.17 per barrel as of 00:42 GMT, while US West Texas Intermediate (WTI) crude was $1.23, or 1.4pc, lower at $86.48.

Both benchmarks suffered weekly losses, with Brent dropping 4.2pc, and WTI shedding 4.4pc.

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