REUTERS, New York/London

Oil prices whipsawed in volatile trade on Friday, but were ‌higher on the week, as traders weighed supply disruptions against the potential restart of peace talks between the US and Iran that could help limit those disruptions.

Brent crude futures settled at $105.33 a barrel, rising 26 cents, or about 0.3 percent. US West Texas Intermediate futures settled at $94.40 ​a barrel, falling $1.45, or 1.5 percent.

For the week, Brent gained about 16 percent and WTI rose nearly 13 percent.

Crude futures gave ​back early gains after Reuters reported that Iranian Foreign Minister Abbas Araqchi was expected to arrive in Islamabad late on Friday to discuss proposals for resuming peace talks with the US after talks collapsed earlier this ​week.

Prices fell further after CNN reported that US President Donald Trump was sending special envoy Steve Witkoff and Jared Kushner to ​Pakistan for talks with Iran’s foreign minister.