Oil prices on pace for weekly gain amid Hormuz supply uncertainty

AI Summary

Oil prices rose on concerns over supply uncertainties following a fresh attack on a vessel in the Strait of Hormuz. This development has raised questions about the stability of key global oil supply routes, driving oil markets toward their first weekly gain in three weeks.

Oil prices edged higher on Friday, keeping them on track for their first weekly gain in three, as a fresh attack on a vessel in the Strait of Hormuz left the status of key supply flows through the waterway mired in uncertainty. Get more oil market insights by subscribing to InvestingPro – now 55% off! ...