New Delhi, April 17 -- Global oil prices declined on Friday morning as the 10-day ceasefire between Israel and Lebanon came into effect late on Thursday.

Further weighing on prices was US president Donald Trump's statement that Iran and the US are "very close" to a deal and that he may travel to Pakistan if an agreement is signed.

"We're very close to making a deal with Iran.There's a very good chance we're going to make a deal," he told reporters on Thursday.

At 6:47 am, the June contract of Brent on the Intercontinental Exchange was trading at $98.41, down 0.99% from its previous close, while the May contract of West Texas Intermediate (WTI) on the NYMEX fell 1.37% to $93.39 a barrel.

Trump had on Thursday announced a 10-day ceasefi...