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Oil prices climb toward weekly highs amid US-Iran hostilities

Greenwatch Desk Energy 2026-09-04, 7:43am

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Oil prices rise on Friday and are on track for their steepest weekly gain since mid-July, with Brent crude futures gaining 15 cents, or 0.2 percent, to reach $95.67 a barrel as of 01:00 GMT.


US West Texas Intermediate (WTI) crude goes up 26 cents, or 0.3 percent, to trade at $91.56.

The gains come as rising tensions and renewed US-Iran hostilities heighten concerns over Middle East supply risks, according to the Reuters news agency.

On a weekly basis, Brent rises 7.1 percent while WTI is 9.8 percent higher, set for the highest gains since the week ended July 20, reports AL Jazeera.