WTI crude futures pared early gains to trade around the flatline near $67.5 a barrel on Friday and were on track for their first weekly decline in seven weeks, as concerns over potential supply disruptions in the Middle East eased. At the same time, investors remained cautious ahead of the outcome of US–Iran nuclear talks. The US is pushing for a broader discussion that includes Iran’s ballistic missile program and regional activities, while Iran insists the talks focus solely on nuclear issues and sanctions relief. Adding to concerns, the US Virtual Embassy in Iran has also urged American citizens to leave immediately. Similar alerts were issued last month, which rattled energy markets over potential supply disruptions Meanwhile, Saudi Arabia cut prices for its main crude grade sold to Asia to the lowest level since late 2020, signaling oversupply, though the smaller-than-expected reduction suggested confidence in demand.
