Middle East Tensions Drive Brent Crude Price Near $108 Amid Supply Concerns

Brent crude futures are trading near $108 a barrel, marking the largest weekly gain since July. This surge is driven by escalating geopolitical tensions in the Middle East, specifically intensified fighting between Houthi militants and Saudi-backed forces. Reduced shipping traffic in the Strait of Hormuz raises concerns about potential oil supply disruptions, impacting global energy markets.