International crude oil prices edged lower on February 13 due to concerns that a potential peace agreement between Russia and Ukraine could end sanctions against Moscow and increase global energy supplies, causing prices to fall.

Moreover, the US decided to delay reciprocal tariffs until April pared earlier losses, raising hopes of averting a trade war.

West Texas Intermediate (WTI) crude for March delivery decreased by US$0.08 (0.11%), reaching US$71.29/barrel on the New York Mercantile Exchange. Brent crude for April delivery fell by US$0.16 (0.21%), settling at US$75.02/barrel.