Oil drops below $106 as US and Iran negotiate deal
Business
Oil prices slipped below $106 a barrel on Friday, with the US and Iran in New York working toward a deal that could ease sanctions and reopen the Strait of Hormuz.
By midmorning, Brent futures were at $105.61, down by 0.93%.
Houthi missiles intercepted over Saudi cities
Iran's President Pezeshkian called on the US to help end ongoing tensions, but things are still heated in the region.
Houthi missiles targeted Saudi cities Yanbu and Taif this week, though Saudi defenses intercepted them all.
Meanwhile in India, crude oil futures also dropped by over 2%, landing at ₹8,951.