Oil Updates — Brent futures down nearly $2 after US delays decision on direct Iran involvement

SINGAPORE: Brent crude prices pared gains from the previous session and fell nearly $2 on Friday after the White House delayed a decision on US involvement in the Israel-Iran conflict, but they were still poised for a third straight week in the black. Brent crude futures fell $1.89, or 2.4 percent, to $76.96 a barrel by 5:55 a.m. Saudi time. On a weekly basis, it was up 3.8 percent. The 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 53 cents, or 0.7 percent, to $75.67.

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