Oil Prices Hold Near Six-Week Highs Amid Ongoing U.S.-Iran Conflict

Oil prices remain elevated near six-week highs due to ongoing U.S.-Iran conflict.

The WTI crude benchmark is trading around $90.75 per barrel, down slightly from Thursday's settlement of $91.30.

Brent crude is also modestly lower at $95.18 per barrel, down from Thursday's settlement of $95.52.

Despite the slight pullback, both benchmarks are on track for their strongest weekly gains since mid-July, with WTI up around 8.8% and Brent up about 6.6%.

The main driver of the market remains the renewed U.S.-Iran fighting and continued restrictions through the Strait of Hormuz, which have kept a substantial geopolitical premium embedded in crude.