Oil markets fell today following news that South Sudan may resume crude production, easing concerns about disruption of supplies from Iran.

South Sudan said it intends to resolve a row over oil and other outstanding issues with Sudan within the next couple of months.

Brent crude fell by 23 cents to $124.90 a barrel, while US crude was down 28 cents to $106.59.

A restart at South Sudan’s oil fields will bring output back to about 350,000 barrels a day, up from around 50,000 currently being produced daily, reports Reuters.