💨 Abstract

Oil prices rose on Friday due to increased Middle East tensions, with Iran reportedly preparing a retaliatory strike on Israel from Iraq. Brent crude and U.S. West Texas Intermediate futures climbed over $1 a barrel. The potential attack and the delay of OPEC+ production increase contributed to the rise. However, prices are expected to decline more than 1% for the week, struggling to recover from a 6% loss earlier this week.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖