Skip to content

Oil set for sharp weekly fall as traders weigh Iran risks

Brent fell below US$100 a barrel on Friday after trading above US$110 earlier in the week. Investors are weighing the risk of renewed US-Iran conflict against signs of possible diplomacy.

Written by AI from 2 sources

Photo: CNBC

  • Oil prices fell on Friday, with Brent down to US$96.93 a barrel and US West Texas Intermediate at US$89.17, as investors assessed risks after the US midterm elections. CNBCThe Wall Street Journal

  • Brent had reached almost US$100 earlier in Friday’s session, after topping US$110 on Monday. The Wall Street Journal also reported that oil had fallen below US$100 a barrel. CNBCThe Wall Street Journal

  • Iran reported three more tanker attacks in the Strait of Hormuz on Thursday, while it reportedly sent Washington a nuclear proposal through Qatar. CNBC