Oil slips 1% as traders hope for US-Iran truce amid fresh attacks on Saudi pipeline

Oil prices eased marginally on Friday after a volatile week, as markets weighed hopes of a possible US-Iran truce against renewed risks to Saudi Arabia's oil infrastructure. WTI crude fell 1.09 points, or 1.15%, to $93.52 a barrel, while Brent crude declined 0.78 points, or 0.73%, to $105.80 a barrel, around 7:30 am IST.The declines followed a sharp rebound in the previous session. Both contracts had gained as much as 5% on Thursday, with Brent settling 3.4% higher and WTI up 2.7%. Brent's close was its highest since September 15, while the gain ended a six-session losing streak for WTI, during which it had fallen 13%.For the week, WTI was down 6.42%, while Brent was up 2.09%.Meanwhile, both the US and Iran are trying to work a potential route towards ending the Middle East conflict.