Oil extends decline ahead of US-Iran talks

US crude futures rose slightly on Friday but were on track for their first weekly drop in seven weeks as supply concerns eased, and investors focused on the outcome of US-Iran nuclear talks in Oman later in the day. Brent crude futures rose 25 cents, or 0.4%, to $67.80 a barrel at 0353 GMT, while the US West Texas Intermediate crude was also up 25 cents, or 0.4%, at $63.54 a barrel. The benchmarks are down more than 3% from near six-month highs reached in late January when US President Donald Trump threatened to strike Iran, with the two sides set to hold talks in Oman on Friday. However, Tehran and Washington have not agreed on the agenda for the meeting. Iran wants to discuss only nuclear issues, while the US is pressing to include Iran’s ballistic missiles, support for armed groups around the region and the treatment of its people.