Oil prices nudged higher late morning Friday even as Hamas confirmed US President Donald Trump's announcement that it is willing to disarm but stressed that Israel would have to uphold the truce in Gaza.
West Texas Intermediate (WTI) September crude oil futures, the US benchmark, advanced $1.81 to $85.40. Brent crude oil futures, the international benchmark, rose $1.01 to $90.04 a barrel for September.
Oil prices have trended higher since the outbreak of the US-Iran war, despite dipping when truce agreements were announced.
Reports on Friday noted that details of the proposed disarming remain thin and Israel has reportedly not yet commented on the announcement. Meanwhile, neither Iran nor the US military reported any attacks on Iranian soil overnight.
Comex gold futures for December declined 1.6% to $4,094.70 per ounce.
Wheat futures (W1) fell 3.6% to $6.40 per bushel, while canola futures (RS1) fell 1% to C$760.50 per tonne.
The US Dollar Index (DXY) is up 0.4% to 100.24 late morning.