SINGAPORE: Oil prices fell on Friday after the White House delayed a decision on US involvement in the Israel-Iran conflict yet they remained on course for a third consecutive weekly rise.
Brent crude futures were down $2.57, or around 3.3 percent, to $76.28 a barrel by 3:04 p.m. Saudi time but still set to gain nearly 3 percent on the week.
US West Texas Intermediate crude for July — which did not settle on Thursday as it was a US holiday and expires on Friday — was up marginally at $75.19.
The more liquid August contract was up around 0.4 percent, or 31 cents, to $73.19.
On Thursday prices jumped almost 3 percent after Israel bombed nuclear targets in Iran, while Iran — OPEC’s third-largest producer — fired missiles and drones at Israel. Neither side showed any sign of backing down in the week-old war.
