Crude Oil Heads for Weekly Loss Amid Stalled US-Iran Talks, Hormuz Disruptions

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Oil prices held largely steady on Friday but were on track for significant weekly declines across global benchmarks. Disrupted crude flows through the Strait of Hormuz and stalled diplomatic negotiations between the US and Iran weighed on market sentiment. Both Brent and WTI contracts faced notable weekly losses as traders reacted to the uncertain geopolitical landscape. India's MCX crude futures also edged lower on Friday, reflecting the broader global trend. A shift in focus from military pressure to economic sanctions further influenced trader outlook during the week.

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