Oil Prices Ease Amid US-Iran Truce Hopes and Middle East Attacks
Crude oil prices declined on Friday as investors weighed the possibility of an easing in US-Iran tensions against continued attacks in the Middle East.
Brent crude futures fell 0.69% to $105.85 a barrel, while West Texas Intermediate (WTI) futures dropped 0.86% to $93.80 a barrel at 0032 GMT.
The market is balancing diplomatic developments between the US and Iran against the risk of further disruptions to energy infrastructure in the region.
US-Iran negotiators are reportedly exploring a phased path toward ending the war, which could involve Iran reopening the Strait of Hormuz and the US easing its economic blockade of Iran.