Oil prices moved lower, paring weekly gains in London and New York, after Axios reported that Iran replied to US amendments on a potential peace agreement, without providing details.

Brent crude futures for July settlement were down about 0.2% at about $110 a barrel in London after an Axios reporter said that Tehran delivered its response to the US via Pakistani mediators. West Texas Intermediate, with significantly lower volumes, was 2.1% lower at about $103.