Oil prices have dropped by about three per cent on Friday, on mounting hopes for a truce between the US and Iran, even as traders worry that increasing attacks against Saudi Arabia by Houthi fighters may disrupt supply from the Middle Eastern producer, Reuters reports.
Brent futures are up $2.96, or 2.8pc, at $103.64 a barrel as of 1612 GMT (9:12pm PKT). West Texas Intermediate (WTI) crude has fallen $2.86, or 3pc, to $91.75.
