Oil prices fell on Friday, heading for a weekly drop of more than 3%, as concerns over supply risks from the Israel-Hezbollah conflict eased, alleviating earlier disruption fears. Brent crude futures fell 55 cents,

Geopolitical tensions and potential supply disruptions are supporting oil prices, but concerns about global demand growth and OPEC+'s production decisions create uncertainty for the market.

Oil prices fell today, heading for a weekly drop of more than 3%, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in 2025 even as OPEC+ is expected to extend output cuts.

Oil prices fell after a U.S. inventory report showed a gasoline stockpile increase, with traders waiting for OPEC+'s decision on production cuts.