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Commodities

Middle East Tensions Keep Oil Prices Above $100

Guavy AI Editorial Team
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Oil
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Ongoing tensions in the Middle East have driven up oil prices, keeping Brent crude above $100 per barrel. The market remains supported by supply disruptions and concerns over geopolitical instability in the region.

The price of Brent crude futures rose 0.37% to $100.35 per barrel on Friday, while US West Texas Intermediate (WTI) futures gained 0.5% to $91.71 per barrel, according to trading data.

The current market dynamics are linked to escalating tensions in the region, which have been exacerbated by US President Donald Trump's threat of strong military action against Iran and the Houthi movement in Yemen following a recent attack on tankers in the Red Sea.

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