Oil Prices Rise on Renewed US-Iran Conflict
Oil prices ended the week higher as renewed military exchanges between the United States and Iran disrupted supplies. Meanwhile, retail U.S. diesel prices reached record highs amid ongoing Middle East tensions and refinery attacks.
Xurve View
Insights:
Xurve View
Brent Crude Oil rose to $96.28 a barrel on Friday, capping a weekly gain of 7.6% after the United States and Iran resumed military strikes. The escalation in their ongoing conflict pushed oil prices higher and drove retail U.S. diesel prices to record highs. Supply routes across the Middle East remain impaired, feeding broader concerns over persistent global inflation.
