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Oil Prices Surge on Middle East Tensions

Published 2 days, 20 hours ago
Description

Oil prices surged in early Friday trading due to renewed strikes in the Middle East, sparking concerns about supply disruptions. Brent crude futures climbed 0.7% to $89.65 per barrel, while West Texas Intermediate crude rose 0.8% to $85.63 per barrel. Both are poised for weekly gains amid escalating tensions and anticipation of tighter supplies. The situation remains volatile as Israel and Iran exchange blows, with global markets anxiously awaiting any impact on energy flows.

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