Oil prices remained relatively stable on Friday after experiencing sharp declines earlier in the week. Brent crude futures fell by 21 cents to $95.24 per barrel, while US West Texas Intermediate (WTI) crude decreased by 10 cents to $92.94. This stability comes despite ongoing tensions in the Middle East, particularly after Hezbollah rejected a ceasefire agreement aimed at resolving the US-Israeli conflict involving Iran. Analysts note that, while the market is facing uncertainty, both Brent and WTI are on track to record their first weekly gains in three weeks, with WTI rising over 6%. Market sentiment is further complicated by the geopolitical situation, as Iranian oil exports have plummeted to a six-year low due to US sanctions, and concerns over falling global oil inventories could lead to price spikes. OPEC has maintained its demand growth forecast for the year at 1.2 million barrels per day, despite the disruptions caused by the ongoing conflict and the closure of the Strait of Hormuz, a crucial passage for global oil transport.