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Market Impact: 0.55

Oil heads for weekly gain as Middle East supply risks persist

Energy Markets & PricesGeopolitics & WarTrade Policy & Supply Chain

Oil prices inched higher on Friday and were set for weekly gains as renewed U.S.-Iran fighting raised fears of supply disruptions. Shipping curtailments through the Strait of Hormuz this week increased the perceived risk to Middle East crude flows, providing price support into the week.

Analysis

Oil prices inched higher on Friday and were set for weekly gains as renewed U.S.-Iran fighting raised fears of supply disruptions. Shipping curtailments through the Strait of Hormuz this week increased the perceived risk to Middle East crude flows, providing price support into the week.

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Market Sentiment

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mildly negative

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