Shafaqna English– Crude oil prices declined on Friday, yet they stayed firmly on a path toward a weekly advance exceeding eight percent, reflecting persistent concerns about supply tightness.
At the same time, diesel prices in the United States climbed to an all-time record, driven by mounting worries that attacks targeting shipping lanes across the Middle East could result in extended and serious interruptions to global fuel supply.
The combination of a daily price drop with a strong weekly performance highlighted how volatile and uncertain the market has become amid escalating geopolitical tensions.
Brent crude futures for settlement concluded the session at 104 dollars and 61 cents per barrel, marking a decline of three dollars and two cents, equivalent to a drop of 2.81 percent from the prior close.
Meanwhile, U.S. West Texas Intermediate crude ended the day at 100 dollars and five cents per barrel, falling two dollars and forty-three cents, or 2.37 percent.
Despite these daily losses, both benchmarks at one point during the trading session reached their highest levels since the middle of May, underscoring the intense upward pressure that has characterized the market in recent weeks.
Source: Reuters