Oil prices have extended their declines as the US and Iran have refrained from attacks in their on-again, off-again war, Al Jazeera reports.

Brent crude, the international standard, has fallen 2.2pc to $84.03 a barrel. It was trading around $72 per barrel before the US-Israeli war on Iran began in late February.

The price of the US benchmark, West Texas intermediate crude oil, has fallen 1.7pc to $81.20 a barrel.

Also, the US dollar has risen to 163.82 Japanese yen from 163.75 yen. The euro has fallen to $1.1367 from $1.1369.