Oil Prices Fall After Trump Extends Iran Deadline

Oil prices declined in early trading, ending a volatile week lower.

The drop followed Trump’s decision to extend a deadline for Iran.

He said talks with Tehran are progressing well.

Brent crude fell 0.8% to $107.11 per barrel.

WTI crude dropped 0.88% to $93.65 per barrel.

Prices had risen earlier due to geopolitical tensions.

However, hopes for peace weighed on the market.

Brent is set for its first weekly loss in six weeks.

WTI is heading for a second consecutive weekly decline.

Markets are reacting to easing tensions.