Oil prices retreated on Friday after wild swings during the week, as the prospect of extra supply from Iran returning to the market outweighed fears of a possible Russian invasion of Ukraine, which could disrupt supply.
Brent crude futures fell 68 cents, or 0.7 per cent, to $92.29 a barrel at 0124 GMT, extending a 1.9 per cent drop from the previous session.
US West Texas Intermediate (WTI) crude futures shed 67 cents, or 0.7 per cent, to $91.09 a barrel, after sliding 2 per cent in the previous session.
Both benchmark contracts were headed for their first weekly fall in nine weeks after hitting their highest points since September 2014, with a deal taking shape to revive Iran’s 2015 nuclear agreement with world powers.
