US-Iran war, June 5 -- Oil prices stabilised after posting their first weekly decline, as optimism surrounding potential US-Iran peace negotiations offset concerns over lingering uncertainty around a ceasefire agreement between Israel and Lebanon.

Crude oil prices on Multi Commodity Exchange witnessed an upward movement, tracking global prices. MCX crude oil prices fell by over 1.04% to Rs.8,934 per barrel.

In the international front, Brent crude hovered near $95 a barrel after slipping 2.8% on Thursday, while West Texas Intermediate (WTI) traded below $93 per barrel.

US President Donald Trump said negotiations with Iran were progressing positively, even as Iran-backed Hezbollah rejected a US-mediated ceasefire proposal between Israel ...