Oil prices were headed for a strong weekly gain on Friday, as concerns about global supply persisted due to tensions in the Middle East. Investors remained particularly attentive to developments between the United States and Iran, which threaten to further disrupt energy markets.
Brent crude is expected to rise by around 7% for the week, while West Texas Intermediate (WTI), the US benchmark, could gain nearly 6%. This development comes as geopolitical risks continue to support oil prices.
The tensions have also affected maritime transport in the region. Tanker traffic through the Strait of Hormuz, a strategic passage through which a significant portion of global oil exports transit, has slowed, fueling concerns about potential supply disruptions.
The International Energy Agency (IEA) has warned that escalating tensions between Washington and Tehran could jeopardize its forecasts for an oil market surplus. According to the organization, a worsening crisis could reduce available volumes and put further downward pressure on prices.
Energy markets therefore remain heavily influenced by geopolitical developments. After several weeks of uncertainty, investors are now assessing the risk of prolonged tensions and their potential consequences for the global economy.
Despite these concerns, analysts are also monitoring market fundamentals, including global demand and production levels. But for now, the risk of disruptions in the Middle East remains the main factor supporting oil prices.
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