TEHRAN, [DATE] – International oil prices experienced a notable decline on Friday, driven by renewed optimism for a reduction in regional tensions and significant diplomatic developments. The market responded positively to a reported pause in hostilities between the Zionist regime and the Lebanese resistance movement, Hezbollah, alongside a pivotal statement from US President Donald Trump.

President Trump’s declaration that the United States and the Islamic Republic of Iran are “very close” to reaching an understanding to conclude the weeks-long conflict in West Asia has injected a sense of stability into global energy markets. This diplomatic momentum suggests a potential pathway towards broader regional peace.

Brent crude, a key international benchmark, saw its price fall by over 3 percent, settling at $96.22 per barrel. Concurrently, West Texas Intermediate (WTI), the US crude benchmark, also declined significantly, dropping more than 4 percent to $90.84.

These movements underscore the profound impact of geopolitical stability on global economic indicators, reflecting a collective hope for sustained peace and cooperation in the region.