Brent closes near $97 as US-Iran tensions intensify
Oil prices fell at the close on Friday, despite achieving strong weekly gains of over 8-10%, supported by geopolitical tensions in the Middle East, especially attacks on oil tankers and maritime traffic through the Strait of Hormuz. Brent crude dropped by $3.91 to reach $96.78 per barrel, while West Texas Intermediate declined by $2.88 to settle at $89.31. Reports suggest that continued disruptions to oil supplies could push prices up to around $114 if the interruptions last for three months, with maritime traffic continuing in partial capacity amidst threats of attempts to restart peace talks between the U.S. and Iran.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)