Oil prices rose on Friday, paring sharp losses from the previous session, after Hezbollah rejected a new Lebanon ceasefire proposal and Oman's Mina al Fahal terminal suspended oil loadings following an explosion, Reuters reported.
Brent crude futures rose 33 cents, or 0.35%, to $95.36 a barrel by 0408 GMT after settling down 2.84% in the previous session.
Both contracts are set to post their first weekly gain in three weeks, with WTI up more than 6%, after fighting flared up in the Middle East as U.S.-Iran war peace talks dragged on while traffic in the Strait of Hormuz, where a fifth of the world's oil passes, remained limited.
Reuters reported on Friday that Oman's Mina al Fahal terminal has suspended oil loading following an explosion near its single-buoy mooring (SBM) berths due to an alleged drone attack.
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