Oil slips 1% as traders hope for US-Iran truce amid fresh attacks on Saudi pipeline

Following a tumultuous week influenced by geopolitical unrest and supply worries, oil prices have dipped slightly. WTI crude now stands at $93.52 a barrel, while Brent crude has retreated to $105.80. Ongoing negotiations aim to address the Middle East conflict, which has considerably strained energy supplies. In Saudi Arabia, military operations have further heightened supply concerns, underscoring the persistent instability in the region impacting global oil markets.