Oil Prices Decline After Iran Proposes Peace Talks
Oil prices fell Friday as Iran proposed peace talks with the U.S. through mediators. Benchmarks remain set for weekly gains despite the ongoing blockade.
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Brent Crude Oil fell 1.47% to $108.78 on Friday after Iran proposed new negotiations to end the Israel-Hamas war with the United States. Prices retreated from a Thursday peak of $126.41, the highest level recorded since March 2022. The proposal offers a potential diplomatic exit from a conflict that has disrupted about a fifth of the world's oil and liquefied natural gas supply since February.
