Oil falls on report Pakistan is pushing for new U.S.-Iran talks with China's backing
Oil prices dropped by around 3% on Friday, but remained on track for a weekly jump of 10% as the U.S.-Iran war continued to escalate.
AI Summary
Oil prices fell about 3% on Friday after a report that Pakistan, backed by China, is pushing for new U.S.-Iran talks. Brent crude settled at $96.78 a barrel and WTI at $89.31, though both were still on track for weekly gains of around 10% due to continued Middle East escalation. The U.S. military has conducted 13 consecutive nights of strikes on Iran, and President Trump has said he is considering a "massive attack" on Iran.