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Oil edges up on US-Iran deal uncertainty, Oman's Mina al Fahal loading suspension

World News

05-06-2026 | 01:42

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Oil edges up on US-Iran deal uncertainty, Oman's Mina al Fahal loading suspension

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.

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.

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.

Analysts have also flagged concerns of falling oil inventories globally that could cause a price spike in the third quarter.

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