Baghdad: Oil prices stabilized amid hopes for a successful effort to end the trade war between the United States and Iran. Oil prices remained stable throughout this week as traders clung to hope for the success of efforts aimed at a final end to the war between the United States and Iran.

According to National Iraqi News Agency, Brent crude futures rose 14 cents, or 0.19%, to $71.94 a barrel by 1831 GMT, ending the week slightly lower by just five cents compared to Friday's settlement price. US West Texas Intermediate crude rose nine cents, or 0.13%, to $68.78 a barrel.