Oil prices are falling on Friday morning due to hopes of a settlement of the conflict in the Middle East.

On the London ICE Futures exchange, the price of June Brent crude oil futures is $98.15 per barrel, which is $1.24 (1.25%) lower than the previous trading session. On Thursday, it had fallen by $4.46 (4.7%) to $99.39 per barrel.

In the online trading at the New York Mercantile Exchange (NYMEX), the price of May WTI crude oil futures fell by $1.36 (1.44%) to $93.33 per barrel. In Thursday’s trading session, it had had decreased by $3.40 (3.7%), reaching $94.69 per barrel.