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Brent Crude Holds Near $100 Amid Ongoing Geopolitical Tensions

Guavy AI Editorial Team
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Crude oil prices declined by 2% on Friday as traders took profits after a recent rally.

The global benchmark Brent crude hovered near $100 per barrel amid ongoing geopolitical tensions in West Asia, which kept supply concerns alive.

Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities, stated that Brent crude prices are holding near $100 after crossing this level for the first time in two months this week.

He attributed the rally to Yemen's Houthi attacks on two Saudi oil tankers in the Red Sea, as well as US President Donald Trump's threat of a massive strike on Iran and Kazakhstan's suspension of exports through the Caspian pipeline following drone strikes.

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