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Oil slips on Friday, still set for 10% weekly gain

The drop came as the U.S.-Iran confrontation intensified, keeping crude on track for about a 10% weekly advance.

Reported · Written up by our desk · Energy

Oil prices eased by roughly 3% on Friday, but traders remained focused on the risk premium tied to a widening U.S.-Iran confrontation.

According to CNBC World, crude was still set for an approximately 10% weekly gain even after the day’s pullback, with tensions continuing to escalate.

The outlet said the week’s outlook was driven by concerns that a potential U.S. response could be larger than before, after references to a more forceful attack plan involving Iran.

Latest closeWTI crude $92.23 ▲6.2%

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