Buoyed by growing concerns about supply disruptions due to tensions between the United States and Iran, oil prices continued to rise, with the settlement ending the latest session near a six-month high.
Brent crude oil futures were down 0.03% at settlement to $70.69 per barrel, but were up 7.3% for the week and 16.2% for the month.
U.S. West Texas Intermediate crude oil fell 21 cents, or 0.32%, to close at $65.21 a barrel. The stock rose 6.8% on a weekly basis and 13.6% on a monthly basis.
geopolitical risk
“The current situation revolves around Iran, and markets have priced in significant geopolitical risks related to Iran, although the extent of that impact is difficult to judge at this stage,” said John Kilduff, partner at the specialist firm.
Oil prices reached their highest since early August 2025 in trading last Thursday.
Buoyed by growing concerns about supply disruptions due to tensions between the United States and Iran, oil prices continued to rise, ending the latest session near a six-month high at the time of settlement.
Brent crude oil futures hit $70.69 per barrel, down 0.03% at settlement, but up 7.3% for the week and 16.2% for the month.
West Texas Intermediate crude oil, up 6.8% for the week and 13.6% for the month, fell 21 cents, or 0.32%, to close at $65.21 per barrel.
geopolitical risk
“The current situation revolves around Iran, and markets have priced in significant geopolitical risks related to Iran, although the extent of that impact is difficult to judge at this stage,” said John Kilduff, partner at the specialist firm.
Crude oil prices reached their highest since early August 2025 in trading last Thursday.
