⚡ Brent Crude Hits $116, Highest Since June 2022
Oil prices surged Friday on fears the U.S. could resume strikes on Iran, pushing Brent crude to its highest level since June 2022.
Brent climbed 2.7%, or $3.06, to $116.20 per barrel, while U.S. benchmark WTI rose 3.04% to $102.50 — its highest in five weeks. Brent has gained roughly 5% this week, WTI about 3%, marking a third consecutive weekly advance for both benchmarks.
The rally was driven by growing expectations that Washington could resume military strikes against Iran in the coming weeks, heightening supply concerns in an already strained market.
Source
Oil prices surged Friday on fears the U.S. could resume strikes on Iran, pushing Brent crude to its highest level since June 2022.
Brent climbed 2.7%, or $3.06, to $116.20 per barrel, while U.S. benchmark WTI rose 3.04% to $102.50 — its highest in five weeks. Brent has gained roughly 5% this week, WTI about 3%, marking a third consecutive weekly advance for both benchmarks.
The rally was driven by growing expectations that Washington could resume military strikes against Iran in the coming weeks, heightening supply concerns in an already strained market.
Source