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Oil prices near second weekly rise
Oil prices are showing stability and a march towards their second consecutive weekly gain, with Brent futures rising by 0.21% to reach $93.98 per barrel, and West Texas Intermediate futures up by 0.08% to $86.90. This occurs despite ongoing American pressures and tensions that continue to limit oil flows in the region. The increase is supported by heightened U.S. rhetoric that raises concerns over a potential decline in exports, while Iran has warned of retaliatory measures against new threats. Fears are growing regarding disruptions to oil supplies from major producers such as Saudi Arabia, Iraq, the United Arab Emirates, and Kuwait, especially as shipping traffic through the Strait of Hormuz has halved compared to previous levels.
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