Khaberni - U.S. crude futures continued their decline on Friday, with fears of supply disruption in the Middle East waning and investor focus on the outcomes of the upcoming U.S.-Iranian nuclear talks in Oman later today.
Brent futures fell by 50 cents or 0.74% to $67.05 a barrel by 01:02 GMT after settling down 2.75% in the previous session.
The price of West Texas Intermediate crude reached $62.77 a barrel, down 52 cents or 0.82%, after closing down 2.84% on Thursday.
Both crudes are heading for their first weekly decline in more than a month and are currently down more than 3% from their highest levels in nearly 6 months, recorded in late January when U.S. President Donald Trump threatened to strike Iran.
The countries agreed to hold talks in Oman on Friday amid rising tensions, after the United States bolstered its forces in the Middle East and regional efforts were made to avoid a military confrontation that many fear could escalate into a broader war.
About a fifth of the total global oil consumption passes through the Strait of Hormuz between Oman and Iran.
