WTI crude fell sharply during the week as traders scaled back expectations of a major U.S.-Iran escalation, outweighing support from a large drawdown in U.S. oil inventories.

Oil prices drop and global markets rebound after a brief Israel-Iran military escalation gives way to a fragile truce and diplomatic talks.

WTI crude fell sharply during the week as traders scaled back expectations of a major U.S.-Iran escalation, outweighing support from a large drawdown in U.S. oil inventories.