Oil prices were set for a sharp weekly fall after the midterm election losses of US President Donald Trump’s Republican Party raised hopes of a de-escalation in the US-Israeli war on Iran, though attacks on vessels in the Middle East continue to provide a floor for the market, Reuters reports.
After early gains in a see-saw session on Friday, Brent crude futures for January were down 74 cents, or 0.8 per cent, to $97.55 a barrel by 0826 GMT. US West Texas Intermediate futures dipped 73 cents, or 0.8pc, to $89.79.
