Crude oil traded little changed around $94 a barrel on Friday as investors assessed conflicting signals over the conflict between Iran and the US. Iranian President Masoud Pezeshkian said Tehran would prefer to end the war while holding a position of strength and called its existing memorandum with Washington a victory for Iran. The comments offered some relief after Treasury Secretary Scott Bessent said the US would impose its toughest-ever sanctions on Tehran and intensify economic pressure on the Iranian regime. Oil prices nevertheless rose more than 5% for a second consecutive week. The US military said tankers had transported more than 660 million barrels of crude through the Strait of Hormuz, a vital oil-shipping corridor, since early May, indicating that substantial volumes continue to move despite the conflict and heightened geopolitical risks.