Oil prices fell on Thursday amid hopes of a possible peace deal between Ukraine and Russia that would end sanctions that have disrupted the flow of supplies, as well as plans by U.S. President Donald Trump to impose counter-tariffs that raised concerns about inflation.
Brent crude futures fell 55 cents, or 0.73 percent, to $74.63 a barrel. U.S. West Texas Intermediate crude futures also lost 52 cents, or 0.73 percent, to $70.85.
Crude fell more than 2 percent on Wednesday after Trump announced Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky's desire for peace.
Source (Al-Arabiya.net Website, Edited)
