Commodities
Brent Briefly Tops $100 as Houthi Attacks Spark Price Surge
The week saw a significant surge in crude oil prices, with Brent briefly crossing $100 for the first time since May before retreating to around $97. This came after Houthi attacks on Saudi oil tankers disrupted shipping routes and prompted military threats from the US.
Despite the weekly gain of 9.7-13.5% for Brent and 8-10.9% for WTI, prices fell nearly 4% on Friday due to reports of potential US-Iran negotiations, highlighting market volatility.
The Fed's decision next week is expected to be crucial in determining oil prices, with expectations of a production increase amid ongoing geopolitical risks.