Crude heads for biggest weekly gain in months amid intensifying Middle East crisis
Oil prices surged as escalating US-Iran military tensions raised supply disruption concerns. Brent crude traded at $85.34 and WTI crude at $80.08 per barrel. Recent US strikes aimed to degrade Iranian military capabilities, while Iran retaliated against regional allies. Renewed hostilities revived fears of a broader conflict and threats to the Strait of Hormuz. Iran warned of widespread infrastructure damage if US threats to strike its facilities are carried out.
Oil prices surged as escalating US-Iran military tensions raised supply disruption concerns. Brent crude traded at $85.34 and WTI crude at $80.08 per barrel. Recent US strikes aimed to degrade Iranian military capabilities, while Iran retaliated against regional allies. Renewed hostilities revived fears of a broader conflict and threats to the Strait of Hormuz. Iran warned of widespread infrastructure damage if US threats to strike its facilities are carried out.
