Oil prices edge lower

Singapore, June 18: Oil prices retreated after a recent rally sparked by fears of supply disruptions in the Middle East, as investors monitored indications of easing regional tensions and smoother shipping activity through the Strait of Hormuz.
Brent crude futures fell by 89 cents, or 1.12 percent, to US$78.66 a barrel.
US West Texas Intermediate (WTI) crude futures declined by 98 cents, or 1.28 percent, to US$75.81 a barrel.
Source: Emirates News Agency