Follow up -INA
Oil prices fell after news emerged that Iran had sent a proposal to negotiate with the United States, but prices were still on track for weekly gains as Tehran continued to block the Strait of Hormuz and the US Navy disrupted Iranian crude oil exports.
Brent crude futures for July delivery fell $2.23, or 2.02%, to settle at $108.17 a barrel, but still posted a weekly gain of 2.7%.
West Texas Intermediate crude futures dropped $3.13, or 2.98%, to $101.94, but still recorded a weekly increase of 8%.
