Oil falls over 1% on reports of potential US-Iran ceasefire deal
Oil futures fell more than 1% on Friday and were on track for their steepest weekly decline since early April, following reports that the US and Iran had agreed to extend a ceasefire, though it had yet to be finalised. Brent crude futures for July fell 1.1% or $1.04 to $92.67 a barrel at 0330 GMT. US oil futures fell $1.26, or 1.4%, to $87.64 a barrel. Brent plunged 10.5% this week - the steepest plunge since the week that ended on April 6, while WTI fell 9.2% - the biggest weekly loss since the week that ended on April 13.