Oil Prices Rise More Than 1% in Global Markets

INA-Follow-up

Oil prices rose by more than 1% on Friday following recent statements by U.S. President Donald Trump regarding Iran and the Strait of Hormuz.

Brent crude futures increased by $1.32, or 1.25%, to $107.04 per barrel, while U.S. West Texas Intermediate (WTI) crude futures rose by $1.33, or 1.31%, to $102.50 per barrel.

Brent crude gained nearly 6% over the week, while WTI climbed more than 7%, driven by uncertainty surrounding the war situation involving Iran.

Source: Al Arabiya