Commodities
US-Iran Tensions Fuel Oil Price Surge
Oil prices have remained steady on Friday, but are still poised to post their biggest weekly gain since mid-July 2026. The escalating tensions between the United States and Iran have fueled concerns about the supply situation.
The price of October futures for West Texas Intermediate (WTI) crude oil was $91.43 per barrel, up 0.14% from the previous settlement price. Meanwhile, November futures for Brent crude traded at $95.56 per barrel, up 0.04% from the previous close.
For the week, Brent crude rose by 7.6%, while WTI crude gained 10.4%. Both are on track to post their biggest weekly gains since the week ending July 20, 2026.