OIL SET FOR 8% WEEKLY SURGE AS SUPPLY RISKS MOUNT Oil remains on track for an 8%+ weekly gain as Middle East attacks threaten key supply ro…
OIL SET FOR 8% WEEKLY SURGE AS SUPPLY RISKS MOUNT
Oil remains on track for an 8%+ weekly gain as Middle East attacks threaten key supply routes, despite Brent retreating to around $104 and WTI below $100 Friday.
Reuters reports Saudi crude supply fell to a 30-year low of 6 million bpd, while U.S. diesel surged above $6 a gallon for the first time as disruptions across Hormuz, the Red Sea and Russia tighten fuel markets.