Shafaqna English– Although oil prices declined slightly on Friday, they were still on course to finish the week above $100 a barrel—a level not seen since mid-May. At the same time, diesel prices in the United States reached an all-time high.
The primary driver behind these developments is a series of attacks on vital shipping routes in the Middle East, which have intensified fears of a prolonged disruption to global oil supplies and pushed prices upward despite the minor Friday dip.
By 0758 GMT, Brent crude futures had declined by $1.65, equivalent to a 1.53% drop, bringing the price to $105.98 per barrel. Meanwhile, U.S. West Texas Intermediate crude fell by $1.36, or 1.33%, to $101.12 per barrel. These declines reflect a modest pullback in oil prices, though both benchmarks remained at elevated levels due to ongoing supply concerns.
Source: Reuters