Energy Preview: Crude oil futures slide under $90 per barrel amid improving sentiments around US-Iran peace agreement

Crude oil price came under pressure on Friday morning in Asia following statements from US President Donald Trump indicating that a peace agreement with Iran could be finalized as early as this weekend. According to Trump, the agreement would safely reopen shipping lanes through the critical Strait of Hormuz and include firm commitments from Iran to forgo the development of nuclear weapons, media reports stated. WTI crude oil futures fell sharply below $90 per barrel to be currently trading at $86.81. Brent is also down around1 % at $89.38.

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