Oil prices held steady on Friday after shedding earlier gains, as market
jitters kicked in over the prospect of geopolitical risks from possible
new US sanctions against Iran.
Brent crude oil futures were at $73.64
per barrel, up 2 cents, from their last close after touching a intraday
high of $73.80 per barrel earlier in the session.
The fluctuations came as investors sifted through the upcoming Iran sanction decision and an increasing US crude inventory build for clues as to the likely direction of oil prices.
The Asian stockmarkets that were open on Friday traded warily as trade talks continued and ahead of the US jobs data. Hong Kong's Hang Seng Index fell 1 per cent, South Korea's Kospi dropped 0.8 per cent and China's Shanghai Composite index lost 0.2 per cent.
Asia markets were trading without Japanese investors on Friday, with markets in Tokyo closed for a public holiday.
Trade talks aimed at easing tensions that have taken the US and China closer to a trade were ongoing on Friday, with US Treasury Secretary Steven Mnuchin sounding a positive note about progress.
The fluctuations came as investors sifted through the upcoming Iran sanction decision and an increasing US crude inventory build for clues as to the likely direction of oil prices.
The Asian stockmarkets that were open on Friday traded warily as trade talks continued and ahead of the US jobs data. Hong Kong's Hang Seng Index fell 1 per cent, South Korea's Kospi dropped 0.8 per cent and China's Shanghai Composite index lost 0.2 per cent.
Asia markets were trading without Japanese investors on Friday, with markets in Tokyo closed for a public holiday.
Trade talks aimed at easing tensions that have taken the US and China closer to a trade were ongoing on Friday, with US Treasury Secretary Steven Mnuchin sounding a positive note about progress.
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