International oil benchmarks experienced modest gains on Friday, yet remained on track for a second consecutive weekly decline as geopolitical tensions in the Middle East showed signs of easing—at least temporarily. The U.S.-led pressure campaign against Iran, which had stoked fears of escalation, appears to have stabilized for now, reducing immediate concerns over a broader regional conflict. However, the persistent threat of maritime shipping disruptions in the Strait of Hormuz and Red Sea continues to weigh on supply dynamics.
