WASHINGTON — President Barack Obama is conceding today that he has differences with Israeli Prime Minister Benjamin Netanyahu on a future state for Palestinians but that such disagreements happen “between friends.”

Obama spoke after a lengthy meeting with Netanyahu in the Oval Office. Both men greeted reporters with smiles despite the deep tension surrounding their talks.

Netanyahu told Obama that Israel values the U.S. president’s efforts to advance the peace process.

The two leaders spoke after Obama declared in a speech Thursday that the United States supports creation of a Palestinian state based on the border lines that existed before the 1967 Six Day War in which Israel forces occupied east Jerusalem, the West Bank and Gaza.

Netanyahu said Israel can make some concessions but cannot return to the 1967 borders, which he called “indefensible.”