Because of the alleviation of fears associated with a Iranian conflict likely to affect supply and forecasts Indicating that supply will exceed demand this year, oil prices remained almost unchanged on Friday after falling during the session previous and are expected to record their second weekly decline consecutive.

The price of Brent crude oil was up by 3% cents, or 0.04%, to $67.55 per barrel at 02:05 GMT, after falling by 2.7% during the previous session.

American West Texas Intermediate Crude Oil (WTI) increased by 1 cent, or 0.02%, to $62.85 after fell by 2.8%.

The price of Brent is expected to fall by 0.8% this week, while that of WTI is expected to fall by 1.1%.

Prices increased at the beginning of the week due to fears that the United States could attack Iran, a key producer of Middle East, about its nuclear program, but the statements made Thursday by US President Donald Trump, according to which the United States could reach a deal with Iran within the next month, have been lower prices during the previous session.

Tony Sycamore, Analyst at IG said in a note that “Oil prices are falling because there are signs that the United States is looking for more time to reach a nuclear agreement with Iran, which reduces the risk premium short-term geopolitics.”