Muscat: Brent crude futures dipped by three cents to settle at $67.72 per barrel, after having closed 23 cents higher last Friday. Meanwhile, West Texas Intermediate (WTI) crude also slipped three cents to $62.86 per barrel. There will be no settlement for WTI crude on Monday due to a public holiday.

Market sentiment remains fragile as traders closely monitor diplomatic developments between Washington and Tehran. Ongoing tensions between the two countries have continued to raise concerns over potential disruptions to global oil flows, keeping volatility in check.

Adding to the cautious outlook, the OPEC+ alliance is widely expected to resume increasing oil production from April, a move that could add further supply to the market at a time when demand growth remains under scrutiny.

Both major benchmarks recorded weekly losses last week. Brent crude declined by approximately 0.5 percent, while WTI posted a sharper drop of around one percent, reflecting broader uncertainty in global energy markets.