Oil prices edged higher on Friday after renewed US–Iran tensions reignited concerns over potential supply disruptions.
Crude Benchmarks Move Up
Brent crude rose $1.20 (1.2%) to $101.26 per barrel, while WTI gained $0.85 (0.9%) to $95.66 per barrel. Both benchmarks had opened stronger before trimming gains.
Despite the rebound, prices are still on track for weekly losses of around 6%.
Oil Prices Rise as Markets Weigh Middle East Peace Prospects
Strait of Hormuz in Focus
The increase came amid fresh accusations between Washington and Tehran over ceasefire violations and reported incidents near the Strait of Hormuz, a critical route for global oil shipments.
Outlook
Analysts say markets remain highly sensitive to geopolitical developments, with ongoing uncertainty around diplomacy and supply risks driving volatility.
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