Crude oil prices slid early Friday, putting both major benchmarks on track to break a two-week winning streak. Brent crude fell 0.3% to $89.45 a barrel, while WTI dropped 0.3% to $83.31.
The retreat follows reports indicating market participants are taking profits despite an earlier boost from U.S. policy stances. The news comes after crude settled higher in Thursday’s session.
Thursday’s gains were sparked by reports that U.S. President Donald Trump is unwilling to return to previous diplomatic terms with Iran. That development raised temporary supply disruption concerns across energy markets.
However, the rally was short-lived. Brent is now positioned to finish the week down 5.3%, while WTI is tracking toward a 4.3% weekly loss as macroeconomic headwinds offset geopolitical risk premiums.
The price pullback reflects growing market skepticism over whether escalating rhetoric between Washington and Tehran will lead to actual physical crude supply outages from the Middle East.
Traders are turning their attention toward broader macroeconomic pressures. High interest rates and signs of slowing industrial demand are keeping a firm lid on sustained price rallies.
