Oil prices settled lower on Friday amid the Islamist group Hamas release of two U.S. hostages from Gaza.

It is now expected that the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.

Brent crude futures fell 22 cents, or 0.2%, to settle at $92.16 a barrel.

U.S. West Texas Intermediate crude futures for November delivery, which expired after settlement on Friday, fell 62 cents, or 0.7%, to $88.75 a barrel. The more-active December WTI contract closed 29 cents lower at $88.08 a barrel.

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 Edited by Jesus Chan

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