Economy

Brent and WTI Head for First Weekly Loss in Three Weeks Amid Iran War

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Brent crude fell 25 cents, or 0.3%, to $89.45 a barrel at 00:35 GMT Friday, while U.S. West Texas Intermediate slipped 22 cents, or 0.3%, to $83.31. Brent was on track to fall 5.3% for the week and WTI 4.3%, ending two consecutive weekly gains. Both benchmarks had risen Thursday as traders reassessed prospects for U.S.-Iran diplomacy after reports that President Donald Trump would not restore the June memorandum’s terms. The U.S. Treasury says its sanctions campaign aims to sever Iran’s economic lifelines.

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