Oil Prices Rise on New Iran Sanctions Threat
Crude oil futures climbed on Friday as President Donald Trump threatened economic sanctions on Iran trade partners. The warning raised expectations of tighter energy supply amid ongoing disruptions in the Strait of Hormuz.
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International and U.S. crude oil futures rose on Friday afternoon after the United States President threatened economic sanctions on Iran's trading partners, pushing Brent up 71 cents to $94.49 a barrel. The advance builds on a weekly gain exceeding 6% as geopolitical tensions in the Middle East heighten supply concerns. Investors are weighing tighter trade restrictions against growing alternative supplies from non-OPEC producers.
