Oil prices fluctuate on supply risks and peace talks
Brent crude fell to 104.49 dollars on Friday as reports of new diplomatic efforts in Pakistan offset supply fears following ship seizures in the Strait of Hormuz.
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Oil markets experienced significant volatility on Friday as traders balanced immediate supply disruptions against the possibility of renewed diplomatic efforts. Prices initially surged by 2% following reports that Iran had deployed commandos to board a cargo vessel in the Strait of Hormuz, a critical maritime corridor that remains largely blocked. However, these gains were pared back as news emerged regarding potential peace talks involving the United States.
