Oil Down More than 4pc

Crude oil prices rise 10% this week but China enters fray to push for end to Iran war. What’s next?

Crude oil futures experienced a significant decline on Friday. This drop followed reports of China's initiative to restart stalled US-Iran peace negotiations. Despite the fall, both Brent and West Texas Intermediate crude are set for weekly gains. Geopolitical developments continue to heavily influence global oil prices and supply concerns. Experts warn of potential price surges if shipping disruptions persist in key waterways.

Oil down more than 4pc

HOUSTON: Crude oil futures prices were more than 4 percent lower on Friday after sources said that China had initiated a push to resume stalled peace talks between the United States and Iran, but remained on track for hefty weekly gains. Both Brent and US West Texas Intermediate crude have rallied this week as the United States and Iran exchanged missile strikes, traffic through the Strait of Hormuz fell to a trickle and Yemen’s Houthis attacked…

Crude oil turns lower as reports say China pushing to resume U.S.-Iran talks

Crude Oil Retreats Over 4% as China Pushes for US-Iran Peace Talks

By Adedapo Adesanya Crude oil prices were more than 4 per cent lower on Friday after it was reported that China had initiated a push to resume stalled peace talks between the United States and Iran. Brent futures settled at $96.78 a barrel after it lost $3.91 or ​3.88 per cent, while the US West Texas Intermediate