Oil prices closed mixed on Friday after early gains but surged for the week amid persistent Strait of Hormuz supply disruptions. Following mid-week stall in US-Iran talks that pushed prices above $100, traders monitor potential progress while fearing escalation. WTI crude settled around $95 per barrel.
Oil markets ended the week on a volatile note, closing mixed Friday per The Economic Times, but delivered sharp overall gains fueled by geopolitical tensions and supply constraints. After topping $100 mid-week as US-Iran ceasefire talks stalled—with Iran seizing ships and US enforcing a naval blockade in the Strait of Hormuz—prices hovered above $95 late Friday for WTI crude.
Disruptions in this critical chokepoint continue to stoke fears of tighter global supply, as Seeking Alpha analysts note. Potential peace talks offer hope for de-escalation, though the Washington-Tehran standoff persists, evoking Trump-era dynamics. Brent crude volatility underscores the risks, with markets cautious over weekend developments that could further impact flows.
