On a weekly basis, Brent crude rose 7.6%, while US crude gained 10.4%.
Oil prices rose in Friday’s trading, heading for their biggest weekly gains since mid-July as tensions escalated and military operations between the US and Iran resumed, heightening concerns over risks to Middle East supplies. 
On a weekly basis, Brent crude rose 7.6%, while US crude gained 10.4%, marking their biggest weekly gains since the week ended July 17, according to Reuters.
ANZ analysts raised their near-term Brent price forecast to $95 a barrel, with upside risks if the conflict in the Middle East escalates.
Markets are awaiting the release of US oil and gas rig count data from Baker Hughes later today to assess the outlook for US supplies.
Change in Futures Prices of the Two Benchmark Crudes
Crude
Price ($/bbl)
Change ($)
Change (%)
Brent (November Delivery)
95.65
+0.13
+0.15%
NYMEX (October Delivery)
91.67
+0.37
+0.40%
On a weekly basis, Brent crude rose 7.6%, while US crude gained 10.4%.
Oil prices rose in Friday’s trading, heading for their biggest weekly gains since mid-July as tensions escalated and military operations between the US and Iran resumed, heightening concerns over risks to Middle East supplies.
On a weekly basis, Brent crude rose 7.6%, while US crude gained 10.4%, marking their biggest weekly gains since the week ended July 17, according to Reuters.
ANZ analysts raised their near-term Brent price forecast to $95 a barrel, with upside risks if the conflict in the Middle East escalates.
Markets are awaiting the release of US oil and gas rig count data from Baker Hughes later today to assess the outlook for US supplies.
Change in Futures Prices of the Two Benchmark Crudes
Crude
Price ($/bbl)
Change ($)
Change (%)
Brent (November Delivery)
95.65
+0.13
+0.15%
NYMEX (October Delivery)
91.67
+0.37
+0.40%
