CNBC4/24/2026Business
Oil Prices Fall on Report of Iranian FM's Pakistan Visit for Peace Talks
Brent crude slips 0.42% to $104.63 as Israel-Lebanon truce extended; IEA chief warns of biggest energy security threat in history
Quick Look
- Oil prices declined Friday amid reports that Iranian Foreign Minister Abbas Araghchi will arrive in Pakistan for peace talks with the U.S.
- Brent crude fell 0.42% to $104.63 per barrel while WTI dropped 1.15% to $94.75.
- The news came as Israel and Lebanon agreed to extend their ceasefire by three weeks.
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Oil prices declined Friday amid reports that Iranian Foreign Minister Abbas Araghchi will arrive in Pakistan for peace talks with the U.S. Brent crude fell 0.42% to $104.63 per barrel while WTI dropped 1.15% to $94.75. The news came as Israel and Lebanon agreed to extend their ceasefire by three weeks. Meanwhile, the conflict between the U.S. and Iran has evolved into naval blockades closing the Hormuz Strait, through which about 20 million barrels of oil ship daily. The IEA head warned the world faces the biggest energy security threat in history, with 13 million bpd of oil lost.
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This article was originally published by CNBC.
