Oil prices fell on Friday, April 17, amid optimism that the Middle East conflict may be nearing an end after a 10-day ceasefire between Lebanon and Israel came into effect.
This was reported by Economic Pravda with reference to Reuters.
The report said that Brent futures fell by USD 1.34, or 1.35%, to USD 98.05 per barrel. US West Texas Intermediate crude futures fell by USD 1.65, or 1.74%, to USD 93.40 per barrel.
Thus, touching on a key stumbling block in negotiations to end the war with Iran, which has kept the Strait of Hormuz closed for seven weeks and cut off about a fifth of the world's oil supplies, Trump said that Tehran has offered not to have nuclear weapons for more than 20 years.
"We'll see what happens. But I think we're very close to making a deal with Iran," Trump told reporters outside the White House on Thursday.
It is noted that in March oil prices rose by 50% - a record jump - and only recently fell below USD 100 per barrel, although they remained in the USD 90 range for a week.
Israel's campaign in Lebanon has been one of the main obstacles to reaching a peace deal that Trump is seeking to end the war against Iran, which he and Israel began in late February.
The post said that US and Iranian negotiators have lowered expectations for a comprehensive peace deal and are instead seeking an interim memorandum that would prevent a return to conflict, two Iranian sources told Reuters on Thursday.
ING analysts estimate that the closure of the Strait of Hormuz has disrupted the flow of about 13 million barrels of oil per day.
As Ukrainian News Agency earlier reported, US President Donald Trump said on the social network Truth Social on Thursday, April 16, that Lebanese President Joseph Aoun and Israeli Prime Minister Benjamin Netanyahu had agreed to a 10-day ceasefire.
On Monday, April 13, oil prices rose sharply, exceeding USD 100 per barrel, as the US prepared to block shipping related to Iran.
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