Crude oil prices fall for the second day on easing fears of a US strike on Iran. What’s behind the fall?

Crude oil prices declined on Friday, extending losses from the previous session, as worries over supply disruptions eased with the reduced likelihood of a U.S. strike on Iran.

Brent crude slipped 21 cents, or 0.3%, to $63.55 a barrel, while U.S. West Texas Intermediate fell 15 cents, or 0.3%, to $59.04 a barrel.