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WTI crude futures fell below $103 per barrel on Friday, trimming their weekly gains, after Axios reported that Iran had responded to US amendments to a potential peace agreement, though no details were disclosed. At the same time, President Trump faces a 60-day War Powers Resolution deadline regarding military action in Iran. Under the 1973 law, US forces must be withdrawn within 60 days unless Congress authorizes their deployment—authorization that has not yet been granted. The administration maintains that a ceasefire reached three weeks ago has effectively “terminated” hostilities.
