Oil prices fell in early trading on Friday amid optimism that the Middle East conflict may be nearing its end, following the start of a ten‑day ceasefire between Lebanon and Israel and U.S. President Donald Trump’s announcement that the United States and Iran could hold new talks early next week.

Brent crude futures dropped by $1.34, or 1.35%, to $98.05 per barrel as of 00:21 GMT, according to Reuters.

U.S. West Texas Intermediate (WTI) crude futures fell by $1.65, or 1.74%, to $93.40 per barrel, trimming gains made in the previous session.