Brent hovers near $94 as US-Iran conflict continues to squeeze energy supply
Oil prices extended their weekly rally on Friday, with Brent crude hovering near $94 a barrel as the ongoing US-Iran conflict continued to disrupt energy supplies.
Brent crude inched to $93.89 per barrel around 7:30 am IST, after gaining 2.4% in the previous session. US West Texas Intermediate stood at 86.84 per barrel, following a 2.3% rise a day earlier.
The benchmarks were on course for a second straight weekly gain. Brent had risen more than 7% over the previous five sessions, while WTI had advanced more than 8%. Both had reached their highest levels since July 24 during the run of gains.
Brent crude inched to $93.89 per barrel around 7:30 am IST, after gaining 2.4% in the previous session. US West Texas Intermediate stood at 86.84 per barrel, following a 2.3% rise a day earlier.
The benchmarks were on course for a second straight weekly gain. Brent had risen more than 7% over the previous five sessions, while WTI had advanced more than 8%. Both had reached their highest levels since July 24 during the run of gains.
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