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The Economic Times

Business

Somanjali Das

Oil slips, heads for weekly loss as Hormuz deal uncertainty persists

Oil Iran Donald Trump United States Strait of Hormuz

Oil prices slipped on Friday as investors assessed signs that Gulf states and Iran were nearing a temporary agreement to reopen the Strait of Hormuz, potentially paving the way for broader talks to end the Iran war, Reuters reported.

Brent crude futures fell 75 cents, or 0.9%, to $81.74 a barrel by 11:41 GMT, while U.S. West Texas Intermediate crude declined 66 cents, or 0.9%, to $76.63.

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