Commodities
Oil Prices Plummet Amid Iran Tensions
Oil prices declined on Friday and are poised to end the week in the red despite rising tensions between the US and Iran.
The Brent crude futures price dropped by 25 cents, or 0.3%, to $89.45 a barrel as of 0035 GMT, while West Texas Intermediate (WTI) crude futures fell 22 cents, also 0.3%, to $83.31.
This comes after the US administration reportedly told mediators it has no interest in reviving the June memorandum of understanding with Iran, complicating diplomatic efforts to restart talks.
The Trump administration's stance was stated by people familiar with the matter, according to a Wall Street Journal report.