New york: Oil prices fell as markets awaited developments in the Middle East. On Friday, oil prices were set to end a two-week winning streak due to ongoing market uncertainty tied to the situation in the Middle East, with discussions between the United States and Iran remaining stalled.

According to National Iraqi News Agency, Brent crude futures decreased by 25 cents, or 0.3 percent, reaching $89.45 per barrel. Similarly, West Texas Intermediate (WTI) crude futures saw a decline of 22 cents, or 0.3 percent, settling at $83.31 per barrel.

Both benchmarks appeared likely to close the week on a downward trend, with Brent crude experiencing a decrease of approximately 5.3 percent and WTI dropping by 4.3 percent.