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Commodities

Pakistan Mediation Eases Oil Price Spike

Guavy AI Editorial Team
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Oil
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Oil prices pulled back on Friday after a brief spike above $100 per barrel, with Crude Oil Futures (CL1:COM) settling at $88.42 and Brent crude (CO1:COM) at $96.16.

The market relief followed reports of fresh diplomatic efforts backed by China, which are aimed at reviving U.S.-Iran talks and easing Hormuz risks and supply fears.

Pakistan has begun the path towards facilitating these talks between the two countries, according to recent reports.

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