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Commodities

Pakistan's Diplomatic Outreach Slips Oil Prices Down

Guavy AI Editorial Team
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Oil
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Oil prices plummeted on Friday after Pakistan proposed reviving US-Iran talks, which traders saw as a sign of potential diplomacy to ease tensions and reduce supply disruptions.

The August West Texas Intermediate (WTI) crude benchmark fell $2.61 to settle at $89.58 per barrel, while September Brent dropped $3.47 to $97.22.

This decline in oil prices could have a ripple effect on gas prices, with the change likely filtering into pumps over days or weeks.

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