Commodities
Trump Threatens Sanctions, Oil Prices Surge
Oil prices surged on Friday as US President Donald Trump threatened economic sanctions on Iran's trading partners, raising expectations of tighter supply in the coming weeks.
The International benchmark Brent crude futures rose 8 cents, or 0.09%, to $93.86 a barrel by 10:40 a.m. CDT (1540 GMT), while US West Texas Intermediate crude was up 16 cents, or 0.18%, at $86.99.
'Sanctions have been the only thing to bring Iran to heel,' said John Kilduff, partner with Again Capital.
The Brent benchmark has gained more than 6% while WTI has risen more than 5% this week, with both touching their highest since July 24 in the previous session.