(Updates with index/price moves and geopolitical news from the first paragraph.)

US equity indexes rose as crude oil prices fell after Iran floated a conditional proposal to reopen the Strait of Hormuz within seven days and resume talks over its nuclear program.

The Nasdaq Composite rose 0.5% to 27,076.4, the Dow Jones Industrial Average climbed 0.8% to 51,759.62, and the S&P 500 advanced 0.4% to 7,738.34 after midday Friday.

Iranian Foreign Minister Abbas Araghchi said Tehran is willing to reopen the Strait of Hormuz, a key crude and energy chokepoint, and restart talks on its nuclear program if Washington accepts its conditions, CNBC reported Friday, citing Araghchi's remarks on the sidelines of the United Nations General Assembly.

"The conditions we have asked the US to meet are nothing new, nothing more than what was already in the Islamabad [memorandum of understanding,]" Araghchi reportedly said.

The front-month US West Texas Intermediate crude oil contract dropped 2.77% to $91.99 per barrel, and the global benchmark North Sea Brent retreated 2.67% to $103.75 per barrel.

US Treasury yields traded mixed, with the 10-year adding 2.8 basis points to 5.19% while the two-year declined 1.4 basis points to 4.88%.

Gold futures edged up 0.6% to $4,323.2, and silver futures advanced 1.2% to $64.79.