Oil prices ease by 1pc as US-Iran truce hopes counter Saudi supply risk

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Oil prices have again fallen about one per cent as markets weigh the possibility of a truce between the US and Iran against concerns that increasing attacks against Saudi Arabia by Yemeni Houthi fighters could disrupt supply from the Middle Eastern producer, Reuters reports.

Brent crude futures are down $1.14, or 1.1pc, at $105.46 a barrel as of 1403 GMT (7:03pm PKT), while West Texas Intermediate (WTI) crude is down $1.05, also 1.1pc, to $93.56.

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