Oil prices experienced a decline on Friday, influenced by growing optimism surrounding ceasefire negotiations between the United States and Iran. Brent North Sea Crude closed down 1.8% at $92.05 per barrel, while West Texas Intermediate dropped 1.7% to $87.36. The potential for a ceasefire has raised hopes that shipping through the vital Strait of Hormuz could proceed without major disruptions, which is critical given that a significant portion of global crude exports passes through this route. Market sentiment fluctuated throughout the week, with initial optimism challenged by new military actions before improving again as diplomatic discussions continued. Analysts predict that the direction of oil prices on Monday will largely depend on updates from the US-Iran negotiations. If talks show progress, prices may stabilize or drop further; however, any signs of stalled negotiations could lead to price increases. Meanwhile, stock markets reacted positively to the news, with the S&P 500 reaching a record high during trading. Asian markets also showed strong performance, reflecting confidence in technology investments and easing geopolitical tensions.