Oil prices edged lower on Friday as traders assessed the possibility of the United States easing restrictions on tankers used to transport oil from sanctioned countries, alongside mounting geopolitical risks.
Brent crude futures fell 0.39% to $105.51 a barrel, while US West Texas Intermediate crude declined 0.55% to $97.43 in early trading.
The US administration is considering relaxing restrictions on some vessels associated with the so-called shadow fleet, which transports oil linked to Russia, Iran and Venezuela. Allowing more tankers to operate could ease shipping bottlenecks and help moderate fuel prices.
However, escalating tensions in the Middle East and attacks on regional shipping continue to threaten supplies. A substantial drawdown in US crude inventories had also supported prices in the previous session.
The International Energy Agency has agreed to release more than 20 million barrels of diesel, alongside remaining supplies from an earlier emergency-reserve release, in an effort to ease pressure on energy markets.
Oil prices remain caught between efforts to increase available supplies and the risk that further geopolitical escalation could disrupt production and transport.
