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Oil prices hovered near six-month highs on Friday after U.S. President Donald Trump warned Iran that “really bad things” will happen if there was no deal over its nuclear program.
International benchmark Brent crude futures with April delivery traded 0.7% lower at $71.17 per barrel at around 10:25 a.m. London time (5:25 a.m. ET), erasing earlier gains, while U.S. West Texas Intermediate
futures with March delivery stood 0.6% lower at $66.02.
Both contracts notched their highest settle in six months in the previous session as energy market participants continue to monitor supply risks in the oil-rich Middle East.
