Oil prices are poised to post a third consecutive weekly gain, driven by heightened geopolitical tensions between Israel and Iran. Despite a dip on Friday, Brent crude futures were trading at $77.28 a barrel, down 2% for the day but up 3.9% for the week. U.S. West Texas Intermediate (WTI) crude for July, which expires Friday, rose 1.1% to $76. The more actively traded August contract gained 0.7% to $74.
Thursday’s spike in oil prices—nearly 3%—followed escalating attacks, with Israel bombing nuclear facilities in Iran and Tehran retaliating with drone and missile strikes, including one that hit an Israeli hospital. The conflict shows no signs of de-escalation, raising fears of broader regional instability.
Analysts say concerns over potential disruptions to oil supply are driving prices higher. Tanker rates have doubled, and many ships are now rerouting to avoid the Strait of Hormuz, a key oil chokepoint through which up to 21 million barrels per day of crude and refined products are transported. Iran, a major OPEC producer, currently pumps around 3.3 million barrels per day.
Phil Flynn of The Price Futures Group noted that while no Iranian exports have been officially disrupted, the threat alone is enough to keep markets on edge. Meanwhile, Israeli Prime Minister Benjamin Netanyahu vowed to make Iran "pay the full price," while Tehran warned against third-party intervention.
Adding to uncertainty, the White House stated that President Donald Trump will decide within two weeks whether the U.S. will intervene. Analysts believe this timeline may be a strategic delay, keeping markets in suspense and oil prices supported.
With no diplomatic breakthrough in sight, energy markets remain on high alert, tracking every development in the volatile Middle East standoff.


Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination
Thailand Inflation Remains Negative for 10th Straight Month in January
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 



