Oil prices advanced on Friday, positioning the market for weekly gains as geopolitical risks in the Middle East continued to weigh on supply expectations.
Renewed fighting in the region has reignited concerns over potential disruptions to energy flows from key producing areas, sustaining the risk premium that has supported prices throughout the week.
Brent crude moved higher in the session, reflecting persistent investor anxiety regarding the Strait of Hormuz.
The shipping chokepoint remains a critical vulnerability for global energy markets, with traders closely monitoring any escalation that could impede tanker traffic.
This repricing follows a period of heightened volatility, including previous jumps in crude prices after US military strikes on targets in Iran.
The current market dynamic underscores the fragility of supply chains in the region.
Despite earlier reports that LNG tankers had resumed transit through the Strait, the broader security environment remains unstable.