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Oil Set for Weekly Gains
Brent and West Texas Intermediate rose as traders weighed attacks on two Abu Dhabi National Oil Company vessels and a possible indefinite blockade of Iran.
- On Friday, oil prices rose as the United States threatened an indefinite naval blockade of Iran, raising concerns about crude supply disruptions from the Middle East.
- Tensions escalated Thursday after two vessels operated by the Abu Dhabi National Oil Company were reportedly attacked while transiting the Strait of Hormuz, a critical energy transit zone.
- Brent futures gained 0.14% to $87.19 a barrel, while West Texas Intermediate crude increased 0.62% to $81.75; both benchmarks are set for weekly gains of about 4.3% and 4.6%, respectively.
- Treasury Secretary Scott Bessent told Newsmax's "Rob Schmitt Tonight" that the U.S. will apply "measures like have never been seen in the history of economic isolation of a country."
- Data from recent IEA and EIA reports are "quite revealing," Julius Baer economist Norbert Rucker noted, suggesting storage levels might eventually pull oil prices lower despite supply constraints.
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15 Articles
15 Articles
Crude oil futures rose by more than a dollar a barrel on Friday evening, boosted by attacks on oil tankers and little progress on a ceasefire agreement between the administration of US President Donald Trump and the Iranian leadership.
·Amman, Jordan
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U.S. Treasury Secretary Scott Bessent threatened Tehran on Thursday with ‘unprecedented economic isolation’
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Oil Prices Rise as U.S. Threat of Indefinite Iran Blockade Raises Supply Concerns
Oil prices climbed on Friday and were headed for weekly gains as the United States threatened to maintain an indefinite naval blockade of Iran, increasing ... The post Oil Prices Rise as U.S. Threat of Indefinite Iran Blockade Raises Supply Concerns first appeared on [your]NEWS.
Oil up after US threatens Iran with 'indefinite' blockade and financial pain
Crude prices on pace for weekly gain
·Abu Dhabi, United Arab Emirates (the)
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Total News Sources15
Leaning Left1Leaning Right3Center3Last UpdatedBias Distribution43% Center, 43% Right
Bias Distribution
- 43% of the sources are Center, 43% of the sources lean Right
43% Right
14%
C 43%
R 43%
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