Oil prices saw slight changes in early Asian trading on Friday after falling more than 1% in the previous session following the fading of war risk premiums in the market after Israel and Hamas agreed on the first phase of a plan to end the war in Gaza.

Brent crude futures rose nine cents, or 0.1%, to $65.31 per barrel by 0044 GMT. U.S. West Texas Intermediate crude climbed 12 cents, or 0.2%, to $61.63 per barrel.

Israel and Hamas signed a ceasefire agreement on Thursday as part of the first phase of an initiative proposed by U.S. President Donald Trump to end the war in Gaza.

Under the agreement, approved by the Israeli government on Friday, fighting will stop, Israel will partially withdraw from Gaza, and Hamas will release all remaining detainees held since the attack that ignited the war in exchange for hundreds of prisoners held by Israel.

Prices had reached their highest levels in a week after gains of about 1% on Wednesday due to stalled progress in a peace agreement for Ukraine, which means sanctions on Russia, the world’s second-largest oil exporter, may continue.

On a weekly basis, both crude prices remain up about 1.2% after a sharp drop last week.