Global oil prices ease following US-Iran ceasefire prospects

According to a report by Qatar-based news outlet Al Jazeera, benchmark Brent crude fell by 74 cents, or 0.69 per cent, to settle at $105.85 per barrel by 00:32 GMT on Friday (September 25).

Simultaneously, US West Texas Intermediate (WTI) crude dropped by 81 cents, or 0.86 per cent, trading at $93.80 per barrel.

The slight decline follows significant volatility during Thursday's trading session, where both benchmarks surged up to 5 per cent intraday before closing higher—Brent up by 3.4 per cent and WTI up by 2.7 per cent. Thursday's settlement pushed Brent to its highest level since September 15.

Prior to Thursday's surge, WTI prices had registered a 13 per cent decline over six consecutive trading sessions. For the current week, WTI is down 6.42 per cent, while Brent crude has gained 2.09 per cent overall.