Oil Prices Rise as Iran Tempers U.S. Deal Hopes

Oil prices turned to a gain Friday after Iran poured cold water on growing market hopes for a near-term agreement with the United States, reminding traders yet again that optimism around diplomacy and reality on the ground are not always moving in the same direction. Brent crude rose 0.

78%, while U. S. benchmark WTI climbed 0. 20% to $96. 54. The move reversed part of Thursday’s selloff, which briefly pushed both benchmarks to their lowest levels in nearly two weeks after comments from U. S. officials suggested progress in negotiations.