Brent hovers near $94 as US-Iran conflict continues to squeeze energy supply

AI Summary

Brent crude oil prices hovered near $94 per barrel amid disruptions to energy supply caused by the ongoing US-Iran conflict. These tensions threaten continued supply, contributing to market volatility and price increases.

On Friday, oil prices held steady, with Brent crude nearing $94 per barrel amid ongoing supply disruptions triggered by the US-Iran conflict. Both Brent and WTI benchmarks are poised for a second consecutive weekly increase. President Trump earlier issued threats of retaliation against nations backing Iran, as the ongoing war has resulted in significant casualties and interruptions to oil and gas supplies.