Oil prices exceed $100
Oil prices slightly declined on Friday trading after a sharp jump in the previous session, but remained above the $100 per barrel level. It is expected to end the week with gains exceeding 10%, the largest since mid-July. This comes amid ongoing supply disruptions and increasing risks to shipping traffic in the Middle East, especially at the Strait of Hormuz and the Bab el-Mandeb Strait, where Houthi control over strategic areas is expanding, threatening the global oil flow estimated at 7% of production passing through these straits. Despite today's decline, prices remain significantly high, heavily influenced by geopolitical risks and the reduced movement of ships through these vital maritime routes.
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