Commodities
Brent Crude Prices Climb Amid Ongoing Middle East Supply Concerns
Crude oil prices continued to rise this week despite some retreat from Thursday's settlement. Brent crude benchmarked at $105.65 per barrel, up from around $102 on Monday.
The Middle East supply concerns persist, with worries about petroleum volumes passing through the Strait of Hormuz remaining. Strikes by Yemen's Houthis against Saudi Arabia provided further backing for prices this week.
A potential U.S.-Iran arrangement may see Iran restore access to the Strait in return for the United States removing its naval blockade. However, absent any clear resolution, oil inventories continue to expand worldwide.