Crude prices set for strong weekly rise
Oil prices showed a slight decline after strong gains in the previous session, but remained above the $100 per barrel level amid concerns about ongoing supply disruptions and shipping movements in the Middle East. Brent crude fell by $1.65 to reach $105.98, and U.S. West Texas Intermediate (WTI) declined by $1.36 to $101.12, after hitting its highest level in about four months at $109.97 during trading. Nevertheless, both benchmarks are on track to achieve weekly gains of over 10%, following a drop of more than 6% on Thursday, due to increasing fears over the safety of energy supply routes in the region.
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