Brent futures fell 84 cents, or 0.8%, to $107.17 per barrel, while US West Texas Intermediate ​futures lost $1.02, or 1.1%, to $93.46 per barrel, trimming gains from a bullish previous ​session.

Both benchmarks were trading 4.6% lower every week ⁠despite Brent rising 5.7% and WTI gaining 4.6% on Thursday on ​fears of further escalation of the war.

“Despite talks of de-escalation, oil is trading ​on war longevity, not just headlines.

Any direct damage to oil infrastructure or prolonged conflict could force markets to rapidly reprice higher,“ said Priyanka Sachdeva, analyst at Phillip Nova.

While Trump ​announced a pause on attacks on Iran’s energy infrastructure, the US has also sent thousands of ​troops to the Middle East, with Trump weighing whether to use ground forces to seize ‌Iran’s ⁠strategic oil hub of Kharg Island.

An Iranian official told Reuters that a 15-point US proposal, conveyed to Tehran by Pakistan, was “one-sided and unfair”.

The war has taken 11 million barrels of oil per day out of global supply, with the International Energy Agency describing the ​crisis as worse ​than the two ⁠oil shocks of the 1970s and the Russia-Ukraine war on gas put together.

Analysts at Macquarie Group said if the war begins ​to wind down soon, oil prices will fall quickly in ​the coming months, ⁠but still remain at pre-conflict levels.

However, prices could rise to $200 if the war drags on until the end of June, they said.

“With each passing day, market ⁠pressure is ​building.

Asian countries are tapping buffer stocks and ​weighing demand adjustments,“ said Mukesh Sahdev, founder & CEO of Australia-based consultancy XAnalysts.