Oil prices rise as investors doubt breakthrough in U.S.-Iran peace talks
Oil prices increased on Friday amid skepticism regarding U.S.-Iran peace talks. Despite the rise, both Brent and WTI crude futures are on track for weekly losses due to fluctuating expectations. Analysts predict that oil prices will remain volatile as geopolitical tensions continue to impact supply and demand.
- ▪Brent crude futures rose by 2.4% to $105.04 a barrel.
- ▪U.S. West Texas Intermediate futures increased by 1.9% to $98.17.
- ▪Both Brent and WTI are expected to remain within a $90–$110 range next week.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountOil prices climbed on Friday but were on track for a weekly loss as investors doubted the prospects of a breakthrough in U.S.-Iran peace talks.Brent crude futures were up US$2.46, or 2.4 per cent, at US$105.04 a barrel, while U.S. West Texas Intermediate futures were US$1.82, or 1.9 per cent, higher at US$98.17.On a weekly basis, Brent was over 4 per cent lower and WTI was down more than 7 per cent, with prices fluctuating sharply as expectations for a peace deal shifted.A senior Iranian source told Reuters gaps with the U.S. have narrowed and U.S.
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