Energy Preview: WTI crude oil set for weekly decline of over 4%

Oil prices fell on Friday morning in Asia after US President Donald Trump said Washington would pause attacks on Iran?s energy sector for 10 days, extending the earlier April 6 deadline to allow more time for negotiations. Meanwhile, Iran reportedly confirmed it had rejected the US 15-point proposal to end the war and instead submitted its own terms, including recognition of Tehran?s authority over the Strait of Hormuz. The counter is currently down almost 1% at $93.73 per barrel and is set for a weekly drop of over 4%. The commodity however remains up roughly 40% since the conflict began.

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