Oil Prices Remain Volatile, Set for Steepest Weekly Gain Since Mid-July Amid Escalating US-Iran Tensions

Oil prices are experiencing significant volatility and are on track for their sharpest weekly gain since mid-July, driven by escalating tensions between the United States and Iran. Concerns over potential disruptions to Middle East oil supplies are fueling the price increases. WTI crude oil has seen a steep rally since late August, climbing from lows near $80.18 to a recent high of $93.05 before easing slightly to trade around $91.67. Brent crude futures were recently around $96.39 a barrel.