Oil Edges Down as U.S.-Venezuela Oil Access Reports and Hormuz Negotiations Weigh on Markets
Oil futures slipped on Friday amid reports that the U.S. is close to securing long-term access to Venezuelan crude reserves and amid evolving U.S.-Iran discussions over the Strait of Hormuz. Brent fell to $89.45 a barrel and WTI to $83.39 as traders weighed potential supply changes against ongoing diplomatic conditions for Hormuz transit.