Brent crude oil futures hovered around $63.8 per barrel on Friday after sliding more than 4% in the previous session as concerns over a potential US military strike on Iran eased. President Trump on Wednesday softened his earlier threats of military action in Iran, saying that he had been assured that no further killings would occur and that executions would not proceed. Reports on Thursday also suggested that Israel and several Middle Eastern allies had asked the US to delay any attack on Iran amid fears Iran would retaliate by striking their countries. These reduced the perceived risk of an immediate conflict that could disrupt Iranian oil production or critical shipping routes in the region. Still, oil prices were on track for a modest weekly gain after climbing in the previous week. The oil market had been supported by civil unrest in Iran, political turmoil in Venezuela, and supply disruptions to Kazakh exports from the Black Sea.