Oil prices rose on Friday with Brent Crude climbing above $96 a barrel and West Texas Intermediate (WTI) crude near $99 a barrel, as markets reacted to renewed supply risks in the Middle East.In the early hours of trade, Brent crude rose by 0.87% to $96.75 per barrel while WTI
Oil prices rose on Friday with Brent Crude climbing above $96 a barrel and West Texas Intermediate (WTI) crude near $99 a barrel, as markets reacted to renewed supply risks in the Middle East.In the early hours of trade, Brent crude rose by 0.87% to $96.75 per barrel while WTI was up by 1.06% to $98.91 per barrel, Reuters reported. The benchmarks extended gains as investors weighed fresh attacks on Saudi energy infrastructure and ongoing uncertainty around flows through the Strait of Hormuz despite a fragile ceasefire between the United States and Iran.The prices rose following attacks on Saudi Arabia’s oil facilities, which disrupted production and added to concerns over global supply stability. Markets also continued to factor in a risk premium linked to the partial disruption of the Strait of Hormuz, one
