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Singapore, February 27 (QNA) – Oil prices declined on Friday as concerns over potential supply disruptions eased after the United States and Iran agreed to extend negotiations over Tehran’s nuclear program.
Brent crude futures fell 28 cents, or 0.4%, to $70.47 per barrel, while US West Texas Intermediate (WTI) crude futures slipped 29 cents, or 0.44%, to $64.92 per barrel.
On a weekly basis, Brent was on track to decline about 1.8%, while WTI was heading for a 2.2% drop, partially reversing gains recorded in the previous week.
The United States and Iran held indirect talks in Geneva on Thursday aimed at addressing Tehran’s nuclear program and reducing tensions between the two sides, which helped ease fears of supply disruptions in global oil markets. (QNA)
