New york: Oil prices experienced an increase as investor skepticism grew over the potential progress in peace negotiations between the United States and Iran. Despite the rise, the market remains on track for a weekly loss.
According to Yemen News Agency, Brent crude futures saw an increase of $3.30, or 3.2 percent, reaching $105.88 per barrel. US West Texas Intermediate crude futures also rose by $2.53, or 2.6 percent, bringing the price to $98.88. These changes reflect the market's ongoing volatility as hopes for a peace agreement fluctuate.
Throughout the week, Brent crude experienced a decline of over 3 percent, while US crude decreased by approximately 6 percent. The fluctuations in prices highlight the uncertain expectations surrounding the potential outcome of the US-Iran negotiations.