Global oil prices fall for second week as Iran tensions ease
Global oil prices fall for second week as Iran tensions ease
Global oil prices have declined for a second consecutive week, with Brent and US crude benchmarks facing further downward pressure amid changing geopolitical developments.
According to international media reports, Brent crude futures fell by 1 cent to $95.41 per barrel on Friday, November 13, while US West Texas Intermediate (WTI) dropped 20 cents, or 0.25%, to $88.52 per barrel.
The latest decline reflects changing expectations about the conflict involving the United States and Iran, as investors assess the potential impact on global oil supplies.
Brent and WTI prices continue falling
Brent crude is expected to record a 2.4% decline during the current week, while WTI is projected to fall by 2.5%.
The downward trend follows an even sharper drop last week, when Brent prices plunged 16% and US crude fell 13%.
The latest figures were recorded at 0242 GMT, according to Reuters.
Trump's Iran policy affects oil market
US President Donald Trump's latest remarks about Iran have also influenced market sentiment.
Trump said on his social media platform, Truth Social, that an agreement with Iran was not necessary to end the war.
The statement increased expectations that Washington could maintain its economic sanctions and restrictions on Iranian oil shipments rather than pursue further military escalation.
Middle East tensions remain a concern
Meanwhile, reduced fears of a wider regional conflict have eased concerns about major supply disruptions.
However, attacks on oil tankers and shipping routes remain a risk to global energy supplies.
Market experts believe developments involving Iran, US policies and Middle East security will continue influencing international crude oil prices.
