Brent crude was trading at around $72 a barrel on Thursday morning, the price it was at the day before the launch of attacks on Iran.

Crude oil prices soared past $81 as Iran reportedly closed the Strait of Hormuz following escalating regional conflicts, while Asian stock markets reached record highs.

The US and Iran have flagged early progress in discussions to end the war. Read more at straitstimes.com. Read more at straitstimes.com.

Global benchmark trades at lowest level since Iran conflict began on February 28