Pakistan begins path toward talks between U.S. and Iran, says reports; oil prices lower
Seeking Alpha ·
Oil prices pulled back on Friday after a brief spike above $100 per barrel, with crude oil futures settling at $88.42 ( CL1:COM ) and Brent crude ( CO1:COM ) at $96.16. The market relief followed reports of fresh diplomatic efforts backed by
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Oil prices declined as the possibility of diplomatic talks between the US and Iran was raised through Pakistan's mediation. WTI crude futures closed at $88.42 and Brent crude at $96.16, cooling the surge that had briefly surpassed the $100 mark. This easing of geopolitical tensions acted as a factor relieving supply anxiety in the energy market. Investors need to pay attention to the future progress of diplomatic negotiations.
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- Crude Oil — Supply anxieties were eased by expectations of resumed diplomatic talks between the US and Iran, causing WTI to fall to $88.42.
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