Oil prices stayed under $100 a barrel on Friday, while Wall Street hit another record and Asian stocks were on track for their second consecutive week of solid gains, with markets awaiting news on whether the Iran war ceasefire, set to expire next week, will be extended.

Brent crude fell 1.1 per cent to $98.31 a barrel and US benchmark crude dropped 1.4 per cent to $89.90, after Donald Trump said the next meeting between the US and Iran could take place over the weekend and suggested he was open to extending the two-week ceasefire beyond its expiry next week, The Caspian Post reports, citing foreign media.

Iran's UN envoy said Tehran remained "cautiously optimistic" over negotiations with the US. A 10-day ceasefire between Lebanon and Israel also went into effect on Thursday.

Asian markets pulled back on Friday despite Wall Street setting another record the previous session. Tokyo's Nikkei fell 1 per cent to 58,930 after hitting an all-time high on Thursday. South Korea's Kospi was 0.6 per cent lower, Hong Kong's Hang Seng dropped 1 per cent and the Shanghai Composite edged down 0.1 per cent. Australia's S&P/ASX 200 lost 0.3 per cent and Taiwan's Taiex traded 0.5 per cent lower.

MSCI's broadest index of Asia-Pacific shares outside Japan remained close to its highest level since 2 March, the first trading day after the Iran war broke out. The index is up 14.5 per cent in April after dropping 13.5 per cent in March, with almost all stock markets now back to pre-war levels.