Oil prices fall after Israeli-Leban ceasefire is declared

The conflict strained a two-week conditional ceasefire between the US and Iran, with Tehran saying Israel's attacks on Lebanon were a violation of the deal.

The price of crude oil Brant dropped by nearly 1% to $88.50 (72.86 pounds) per barrel, while US-marketed oil fell by 1.2% to 93.60, the BBC writes.

Major Asian markets marked a decline Friday morning after they grew in the week. Japan's Nikkei 225 index dropped by 0.8%, while Kospi in South Korea dropped by 0.3%. /Periscope