India, July 3 -- Oil prices edged higher on Friday as investors remained cautiously optimistic that ongoing peace efforts between the United States and Iran would reduce the risk of fresh supply disruptions in the Middle East. However, gains were limited as increased crude exports from major Gulf producers eased supply concerns ahead of the U.S. Independence Day holiday.

Brent crude futures gained 0.6% to $72.30 per barrel, while West Texas Intermediate (WTI) crude rose 0.5% to $69.00 per barrel. Despite Friday's gains, both benchmark contracts were little changed for the week, reflecting calmer market conditions after recent geopolitical volatility.

Brent Crude Oil Price Today (July 3)

Brent crude futures traded at $72.30 per barrel, ...