Brent crude futures barely budged on Friday as traders awaited news from U.S.-Iran talks in Oman. Brent inched up 7 cents to $67.62 a barrel, while U.S. West Texas Intermediate also gained 7 cents, trading at $63.36 by 1055 GMT. Brent is on track for a 4.3% weekly drop—its first since mid-December. The Strait of Hormuz, through which about 20% of global oil passes, remains a focal point for any disruption concerns. “Investors are watching the U.S.-Iran talks,” said Tamas Varga, oil analyst at PVM. Capital Economics warned that geopolitical worries might give way to “weak fundamentals,” potentially driving prices down to $50 a barrel by the end of 2026.