Summary

Oil prices climbed in early Asian trade on Friday as skepticism grew that U.S.-Iran negotiations would produce a breakthrough, with all the major sticking points still unresolved despite claims of progress. At the time of writing, Brent futures were trading at $104.80, 2.13% higher on the day, while WTI futures climbed to $97.99, up 1.70%. The price spike comes after both benchmarks fell roughly 2% on Thursday to their lowest levels in nearly two weeks, as traders briefly priced in the possibility of diplomatic progress.

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