Commodities
Oil Prices Edge Lower but Remain on Track for Second Straight Weekly Gain
Oil prices dipped on Friday but remain on track for their second consecutive weekly gain due to ongoing supply disruptions and tensions between the US and Iran.
The prolonged conflict has heightened concerns over further supply constraints, pushing Brent crude futures up 0.3% to $93.40 a barrel and US West Texas Intermediate (WTI) crude slipping 0.55% to $86.30 a barrel.
The market remains particularly sensitive to developments around the Strait of Hormuz, a critical transit route for global oil supplies, which has seen a sharp decline in shipping activity since the conflict began.