Oil markets stabilized on Friday after US President Donald Trump hinted that he would give diplomacy more of a chance before deciding whether to join Israel in striking Iran’s nuclear sites. It comes as top diplomats from France, Germany and the United Kingdom  meet with their Iranian counterparts in Geneva, Switzerland, on Friday, for some eleventh-hour diplomacy, reassuring investors around the globe.

The price of Brent Crude, the global benchmark for oil, stood at $76.58 per barrel at 7:15 a.m. Friday, down 0.75% from the previous day’s close. Earlier in the day, Brent fell as much as 2% after Trump’s announcement helped settle investor sentiment. 

Oil has been on an upward trajectory over the last few months. As of June 20, Brent Crude was 17.86% higher than a month earlier. The price spiked further after Israel launched its attack against Iran on June 13 in what it has said is an effort to prevent Tehran from developing an atomic bomb. Iran denies that it is pursuing nuclear weapons and has retaliated with air strikes on Israel.

Both sides have claimed to be mainly targeting nuclear enrichment, energy and military sites, but that has extended into civilian casualties and attacks on major cities, including Tehran and Tel Aviv. Israel has also killed several high-ranking Islamic Revolutionary Guard Corps officials, and other military leaders, and Iranian nuclear scientists. By early Friday, Israeli airstrikes had killed more than 639 people in Iran, the Associated Press reported, citing a Washington-based rights group, while Iranian attacks had killed 24 in Israel, according to the country's Health Ministry.