New york: Oil prices edged lower at settlement on Friday evening, amid doubts about the extent to which the administration of US President Donald Trump would commit to imposing sanctions on the two largest Russian oil companies over the war in Ukraine. Brent crude futures fell 5 cents, settling at $65.94 a barrel, while US West Texas Intermediate crude futures fell 29 cents to settle at $61.50 a barrel.

According to National Iraqi News Agency, the market is closely monitoring potential policy changes that could affect the global oil supply. The uncertainty surrounding the US administration’s stance on sanctioning Russian oil companies has contributed to fluctuations in oil prices. The hesitation in implementing such measures reflects broader geopolitical considerations and the complex nature of international energy markets.