New Delhi, June 20 -- Oil prices eased on Friday morning as traders awaited the decision of the US over its participation in the Israel-Iran conflict.

The Brent August contract on the Intercontinental Exchange traded at $77.20 per barrel at 10.08 am, over 2% lower than its previous close.

The White House said on Thursday that President Donald Trump will decide whether or not the US gets directly involved in the Iran-Israel conflict within the next two weeks.

"Crude oil remains highly volatile, with prices reacting sharply to developments and statements related to the Israel-Iran conflict," said Rahul Kalantri, vice president for commodities at Mehta Equities. "Yesterday, we saw a sharp jump in crude oil prices. but this morning we are ...