Brent falls to $98.15

Oil prices are falling on Friday, fueled by hopes for a Middle East peace settlement, Report informs via Interfax.

The price of June Brent crude futures on London's ICE Futures Exchange is $98.15 per barrel, down $1.24 (1.25%) from the previous close. On Thursday, these contracts fell $4.46 (4.7%) to $99.39 per barrel.

WTI crude oil futures for May on the New York Mercantile Exchange (NYMEX) electronic trading have fallen $1.36 (1.44%) to $93.33 per barrel. Their price fell $3.40 (3.7%) to $94.69 per barrel in the previous session.

The changes came after US President Donald Trump announced on Thursday that Lebanon and Israel had agreed to a 10-day ceasefire and that the US and Iran could resume talks as early as this weekend.