Global energy markets recorded a positive week, with crude prices posting notable gains driven by heightened supply concerns and escalating tensions in the Middle East, which is considered the primary artery of world oil production.
US crude futures rose from last week's settlement price of $87.36, surpassing the $90 threshold to close at $90.54 per barrel, achieving a net gain of $3.18 and recording a strong increase of 3.64%.
Brent crude futures also advanced, benefiting from the positive momentum, rising from their previous level of $92.05 to close current trading at $93.09 per barrel. The gain in Brent amounted to $1.04, a rise of 1.13%.