Oil prices wavered on Friday as cracks emerged in the preliminary deal to end the war in Iran.
Talks between U.S. and Iranian officials were postponed, with Vice President JD Vance delaying a scheduled trip to Switzerland for the next phase of talks, highlighting the fragility of the agreement signed this week. Israel launched new strikes in Lebanon, suggesting that the fighting there was far from over.
Oil prices remain on track to fall for a second straight week, however, as traders react to apparent diplomatic breakthroughs and anticipate the reopening, eventually, of traffic through the Strait of Hormuz, a crucial passageway for oil and gas in the Persian Gulf.
