Commodities
Oil Prices Slip as US-Iran Cooperation Eases Supply Disruption Fears
Oil prices slipped on Friday as reports of potential US-Iran cooperation to reopen the Strait of Hormuz eased fears of prolonged supply disruptions. However, fresh Houthi attacks on Saudi targets underscored the continuing risks to the region's energy infrastructure.
Brent crude futures for November delivery fell 0.82% to $105.73 a barrel, while West Texas Intermediate (WTI) crude declined 1.54% to $93.15 a barrel at 10:30 AM IST.
The decline came after both benchmarks had gained as much as 5% during the previous session before trimming their advances following reports of renewed US-Iran diplomatic efforts.