International oil prices edged lower in early Friday trading, with Brent crude down 0.39% to $105.51 per barrel and WTI crude down 0.55% to $97.43 per barrel.
International oil prices edged lower in early Friday trading as investors weighed escalating Middle East tensions against potential US easing of restrictions on "shadow fleet" tankers. This follows the International Energy Agency (IEA)'s agreement to release over 20 million barrels of diesel and remaining crude oil from emergency reserves pledged in March to alleviate supply pressures. According to Reuters, citing US officials, the Donald Trump administration is considering lifting sanctions on some vessels transporting Russian, Iranian, and Venezuelan oil to reduce record shipping costs. Meanwhile, attacks on vessels near the Strait of Hormuz and escalating conflicts between Saudi Arabia and Yemen's Houthi rebels continue to fuel concerns over regional energy supplies.
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