Oil prices stabilized on Friday and were heading toward weekly gains after a highly volatile week marked by renewed fighting between the United States and Iran, which affected shipping activity through the Strait of Hormuz, according to Reuters.
By 09:28 Moscow time, U.S. West Texas Intermediate (WTI) crude futures for August delivery were trading at $71.87 per barrel, down 0.29% from the previous settlement.
Meanwhile, global benchmark Brent crude futures for September delivery stood at $76.01 per barrel, a decline of 0.38% from the previous close.
On a weekly basis, Brent crude is set to gain around 6%, while U.S. crude is on track for a rise of nearly 5%.
By 09:28 Moscow time, U.S. West Texas Intermediate (WTI) crude futures for August delivery were trading at $71.87 per barrel, down 0.29% from the previous settlement.
Meanwhile, global benchmark Brent crude futures for September delivery stood at $76.01 per barrel, a decline of 0.38% from the previous close.
On a weekly basis, Brent crude is set to gain around 6%, while U.S. crude is on track for a rise of nearly 5%.
