This week's inventory report from the US Energy Information Administration is likely to have played a major role in preventing Oil prices from slipping noticeably below the level seen before the escalation of the Middle East conflict, Commerzbank's commodity analyst Barbara Lambrecht notes.
Oil prices are steady following the de-escalation in the Middle East. The ceasefire between Israel and Iran continues to hold. Meanwhile, nuclear talks between the US and Iran are set to resume next week, according to comments from President Trump.
The Pound Sterling (GBP) holds onto gains near a fresh three-year high around 1.3770 against the US Dollar (USD) during European trading hours on Friday.