Free daily briefing on global business news.
Fee disputes and U.S. sanctions concerns are complicating a proposed deal to reopen the strait, through which a fifth of global oil normally flows
Handout / Getty Images
Oil prices edged lower on Friday as investors weighed the mounting obstacles facing a proposed deal between Iran and Oman to reopen the Strait of Hormuz, according to Reuters.
As of 1014 GMT, Brent crude had slipped 57 cents, or 0.7%, to $81.92 a barrel, while U.S. West Texas Intermediate shed 33 cents, or 0.4%, to reach $76.96. Both contracts are tracking toward a roughly 9% loss for the week.
