Oil prices edged lower as the market weighs the prospect of an Iran ceasefire against the risk of attacks on Saudi facilities.

1. Oil prices edged lower on Friday following a week of gains. The market is assessing the possibility of a US-Iran ceasefire deal and the impact of Houthi attacks on Saudi Arabia. Brent crude December futures fell by 1.37%, trading near $98.85 per barrel; West Texas Intermediate crude fell by 1.8%, trading near $92.88 per barrel.2. Sources close to the negotiations said this week that US and Iranian representatives are discussing in New York a phased plan to end the war, which includes Tehran reopening the Strait of Hormuz and Washington lifting economic sanctions on Iran. Iranian President Pezeshkian stated on Thursday that the end of the war depends on the United States. In an interview with Fox News, he said the decision to end the war must come from the US.4. The Saudi-led coalition in Yemen stated that Saudi Arabia intercepted six ballistic missiles launched by the Houthi, thwarting attacks targeting the southern Taif and the Red Sea coastal Yanbu region. Tim Waterer, Chief Analyst at KCM Trade, said that continued attacks clearly remind us that key oil assets remain within firing range.5. According to industry sources, satellite images, and shipping data, although tanker loading operations have not yet resumed, Saudi Arabia is gradually increasing the volume of crude oil sent through the East-West oil pipeline to the Red Sea export hub of Yanbu.