Oil prices dip marginally as US weighs easing sanctions on ‘shadow fleet’ tankers

Oil prices fell slightly on Friday as investors weighed rising tensions in the Middle East against the possibility of the US easing restrictions on ships carrying oil from sanctioned countries. Brent crude stood at $105.40, a decline of 0.52% while WTI crude was trading at $97.31, down 66 cents, or 0.67%.The dip came after a sharp rise in US crude prices during the previous session. WTI settled more than 3% higher on Thursday, supported by a significant reduction in US crude inventories. Brent, however, finished the session with little change.Efforts to increase supplies have also failed to fully ease market concerns. On Thursday, the International Energy Agency agreed to release more than 20 million barrels of diesel, alongside any oil left over from the record emergency reserve release announced in March.