On Friday, the Brent benchmark reached $110 per barrel, its first such level since May, as attacks near the Strait of Hormuz added to global supply concerns.
Brent ended the session at $109.86 a barrel, a 3.7% daily gain. The U.S. West Texas Intermediate (WTI) benchmark finished at $101.41, advancing 3.5%. For the week, Brent advanced nearly 5%, while WTI’s rise exceeded 10%.
At least nine ships were attacked near the strait from Sunday onward. An earlier EconoTimes review of Friday’s Brent reports noted that the listed daily close alone did not confirm an intraday move above $110.
Attacks on Ukraine’s infrastructure continued as President Donald Trump sought a halt to strikes on energy facilities. Ukrainian President Volodymyr Zelenskyy said Kyiv planned to resume attacks on Russian refineries.
Friday’s U.S. diesel average was $6.33 per gallon, a rise of more than 70% from the year-earlier period.
