Mumbai, Feb. 27 -- Oil prices surged above $65 per barrel on Friday but remained on track for a weekly decline after the US and Iran agreed to extend nuclear negotiations, easing concerns over potential supply disruptions. Markets also stayed cautious ahead of the OPEC+ meeting on Sunday, where producers may resume output hikes. For the week, Brent crude was heading for a decline of around 1%, while WTI was set to fall more than 1%, reversing part of last week's gains. On the macro front, US initial and continuing jobless claims came in below expectations, pointing to a stable labor market. Still, the Federal Reserve is expected to keep interest rates unchanged at least until June as policymakers weigh elevated inflation against labor marke...