Oil prices were steady and little changed for the week as traders held on to hopes for a successful outcome from attempts to secure peace between the United States and Iran, reports Reuters.

Brent futures were down 8 cents, or 0.11 per cent, at $71.72 a barrel by 0109 GMT. West Texas Intermediate was down 22 cents, or 0.32pc, at $68.47 a barrel.

Over the week, Brent and WTI have lost about 0.3pc.