Oil poised for weekly rise amid Iran concerns
Oil prices are set to achieve weekly gains of over 6% due to escalating tensions between the United States and Iran, as both sides exchanged military attacks again, leading to disruptions in global oil supplies and a record surge in U.S. diesel prices. Despite a decline in futures today, geopolitical risks have fueled expectations of higher oil prices in the future, with the average Brent price rising to $86 during the third quarter and reaching $95 in the short term, amid ongoing potential for escalating conflicts and their impact on supplies and global markets.
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