Oil prices fell, extending losses after falling about 1.6% in the previous session, as market risk premiums narrowed following a ceasefire agreement between Hamas and Israel.
During Friday's trading, Brent crude futures for December delivery fell 0.45%, or 29 cents, to $64.93 a barrel, as of 8:07 a.m. Mecca time.
US Nymex crude futures for November delivery also fell 0.4%, or 24 cents, to $61.27 a barrel.
Under the agreement ratified by the Israeli government today, hostilities will cease and Israel will partially withdraw from the Gaza Strip in exchange for Hamas releasing all remaining hostages it holds, in exchange for hundreds of Palestinian prisoners, according to Reuters.
Markets are awaiting the release of Baker Hughes' US oil and gas rig count data later today, to gauge US supply prospects
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