Oil Prices Slide Amid Diplomatic Signals and Easing US-China Trade Tensions

Oil prices fell on Friday as diplomatic signals from Iran and easing US-China trade tensions reduced geopolitical risk in markets.

The International Benchmark Brent crude futures for November delivery traded at $105.70 a barrel, down 0.8% from the previous close of $106.60.

Iranian President Masoud Pezeshkian told Fox News that Iran does not want war with the US and is ready to reach an agreement through negotiations.

Pezeshkian said 'We do not choose war. The war was imposed on us, and we are not seeking war,' adding that Tehran remains willing to move forward with an agreement reached with US President Donald Trump.