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| Oil prices rise, heading for weekly gains |
| Singapur, 09.07.2026 |
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| Oil prices rose on Friday morning on renewed concerns about supply disruptions from the Middle East region after renewed fighting between the US and Iran, which has restricted shipping in the Strait of Hormuz. Brent North Sea crude is expected to gain 6% and WTI US light crude is expected to gain 5% for the week. TASR reports this based on a Reuters report and Bloomberg data.
Brent crude for September delivery reached USD 76.59 (EUR 66.98) per barrel (159 liters) by 7:05 a.m. CEST. This represents an increase of 29 cents (0.38%) compared to the previous close.
US light crude for August delivery reached USD 72.34/barrel. This was an increase of 26 cents, or 0.36%, compared to the previous close.
“Prices have retreated from mid-week highs, but there is still a significant risk premium as transit through the Strait of Hormuz has all but stopped and there are no clear signs of when it might resume,” said Vandana Hari, founder of analyst firm Vanda Insights. “However, potential upside appears to be limited by market confidence in a return to diplomacy between the US and Iran,” she added.
“Despite the US escalating attacks on military targets in Iran, the market has taken some reassurance from the Trump administration’s decision to avoid attacking Iran’s energy infrastructure,” said Daniel Hynes of ANZ.
(1 EUR = 1.1435 USD)
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