Oil Prices Rise Slightly Amid Mixed Global Market Signals

Oil prices rose slightly on Friday as investors weighed mixed signals from global markets. The Brent crude price increased by $0.29, or 0.28%, to $102.60 per barrel at 0022 GMT.

The West Texas Intermediate (WTI) oil price also rose by $0.27, or 0.29%, to $93.14. This comes after a volatile Thursday when prices surged due to reports of US troops and carriers being sent to the Middle East and China halting fuel exports.

According to Tim Waterer, chief analyst at KCM Trade, 'The market is taking stock of a distinctly mixed set of signals this week.' He noted that traders were simply taking a breather after Thursday's disruptions.

The US is reportedly sending a third aircraft carrier and up to 10,000 more troops to the Middle East as President Donald Trump weighs resuming strikes on Iran. China has also restricted fuel exports, banning liquid fuel shipments in March but relaxing the curbs in July.