Commodities
US Sanctions Threat Push Oil Prices Higher
Oil prices rose on Friday, putting them on track for a second consecutive weekly gain. The increase comes as the US ramps up pressure on Iran with threats of imposing the toughest sanctions in history.
The Brent benchmark has gained more than 6.1% this week and WTI has risen 5.3%, touching their highest levels since July 24 last session.
Analysts say the US stance against Iran is behind the price surge, with the blockade back in place and threats of tougher sanctions on Iranian oil exports.