WTI crude oil prices are retreating from a five month high under $65 per barrel on Friday morning in Asia. However, geopolitical risks stayed elevated after Iran warned it would 'defend itself and respond like never before' in reaction to fresh threats from US President Donald Trump, who urged Tehran to enter nuclear talks. Iran cautioned that it would retaliate if provoked. The counter is set for a month gain of nearly 12% and is currently quoting at $64.28 per barrel, down 1.86% on the day.

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