Oil Prices End Volatile Week at $100 Amid Ongoing Hormuz Risks

The oil market experienced a volatile week, ending at $100 as Saudi supply fears eased but Hormuz risks persisted.

Saudi Arabia's decision to suspend Yanbu loadings and cancel some European cargoes sent prices soaring earlier in the week, with Brent reaching $108.75 on Tuesday.

However, later in the week, Saudi arranged additional crude exports through ship-to-ship transfers near Sohar, Oman, reducing fears of an immediate severe supply shortage.

The Strait of Hormuz remains heavily restricted, with only four commodity vessels crossing it on Thursday, compared to a 10-day average of about 16.