Global oil prices fall after Trump says he won't attack Iran

International crude oil prices fell after US President Donald Trump said he would not attack Iran ahead of November's midterm elections.

According to news agency Reuters, crude oil had fallen by about $1.10, or roughly 1.1 percent, to around $103.18 a barrel by Friday afternoon.

Reuters also reported that US West Texas Intermediate crude fell by about 49 cents, or roughly 0.5 percent, to around $91 a barrel.

Prices that had risen in Thursday's trading turned downward on Friday following Trump's remarks. Since the war began in the Middle East, Iran has been attempting to blockade the Strait of Hormuz. On Friday, Iran's Revolutionary Guards claimed to have struck a tanker in the strait.

Nepal Rastra Bank has fixed today's buying rate for 1 US dollar at Rs 154.56 and the selling rate at Rs 155.16. At the selling rate, a barrel of crude oil works out to about Rs 16,000, while a barrel of West Texas Intermediate crude works out to about Rs 14,100.