Oil on track for weekly loss even as Iran tensions simmer
Oil fell on Friday after a two-week winning streak, despite settling higher in the previous session following a report that U.S. President Trump is not interested in returning to previous deal terms with Iran.
TL;DR
- Oil prices fell on Friday, on track to end a two-week winning streak.
- Brent crude futures were down 0.3% to $89.45 a barrel, and WTI crude futures fell 0.3% to $83.31.
- The U.S. administration has reportedly informed mediators it is not interested in reviving previous deal terms with Iran.
- Earlier, Washington stated it was not in talks with Iran despite diplomatic efforts by other countries.
- The U.S. had previously imposed what it called the 'toughest sanctions in history' on Iran.
- Moscow warned it could strike British military targets in response to Kyiv's attacks using British-supplied missiles.
- President Trump expressed that Russian President Vladimir Putin would not attack a NATO country.