WTI crude oil futures eased to $94.7 per barrel on Friday after the White House said it would send envoys to Pakistan, where Iranian officials are also expected, raising tentative hopes that stalled US Iran talks could resume and eventually reopen the Strait of Hormuz. However, Iran struck a cautious tone, with reports suggesting no formal talks are currently scheduled during Foreign Minister Abbas Araghchi’s visit. The prospect of diplomacy reduced some of the geopolitical premium built into prices earlier in the week. Markets remain focused on whether negotiations can materialize as the key shipping route stays largely closed. The ongoing US naval blockade continues to restrict Iranian crude exports and remains a major obstacle to progress. Analysts note that even if the strait reopens, oil flows could take months to normalize, keeping supply tight and maintaining pressure on global energy markets.