Brent oil slipped after surging almost 6% over the previous two sessions, as traders weighed continued hostilities between the US and Iran against efforts to broker a new ceasefire.
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Oil edged up in a fraught session as traders grappled with a barrage of headlines that suggest a worsening of the Middle East conflict, as well as attempts to bring about a pause in the war.
Oil surged on growing fears the US and Iran could return to full war, threatening flows through the Strait of Hormuz.
Oil dipped, though remains higher for the week, as traders balanced profit-taking with concerns about disruptions to Middle East flows.
Oil narrowly held onto a three-day winning streak as the US launched fresh strikes on Iran in response to a spate of attacks on shipping vessels and American diesel stockpiles posted a sizeable increase.
