Commodities
Oil Prices Reach New Heights Despite Friday Pullback
The global oil market has seen significant fluctuations in recent weeks, with prices reaching new heights despite a slight pullback on Friday.
WTI crude finished the week at $100.05 per barrel, down $2.43 from Thursday's settlement, but still showing a substantial gain of 9.37% for the week.
Brent crude also rose by 8.65% for the week, closing at $104.61 despite a decline of $3.02 from Thursday's close.
The sharp escalation of the U.S.-Iran conflict and attacks on oil shipping have been the primary drivers of this price surge, with geopolitical supply risk playing a significant role in the market.