Oil prices fall after Trump comments on Iran

Oil prices declined in Friday trading as concerns over Middle East supply eased following comments by US President Donald Trump about Iran.

Brent crude futures fell by 72 cents, or 0.7%, to $103.53 a barrel by 02:20 GMT. US West Texas Intermediate (WTI) futures dropped 0.6%, or 52 cents, to $90.97 a barrel.

Despite the decline, Brent is on track for weekly gains after settling up 4% on Thursday. In contrast, WTI is expected to post a slight weekly loss, even as supply disruptions persist due to a hurricane approaching the US Gulf Coast, the world’s largest oil producer.