Crude Oil WTI is down by 4.03%

WTI crude oil futures fluctuated around $66 per barrel on Friday, near a six-month high and set for a weekly gain of 5%, after US President Donald Trump said he is considering a limited military strike on Iran and warned Tehran it has 15 days at most to reach a nuclear deal. At the same time, the US is conducting its largest military buildup in the Middle East since 2003, increasing the risk of a broader conflict. Iran produces over 3 million barrels per day, about 3% of global output, mainly for China, and could threaten the Strait of Hormuz, a key energy transit route. Oil prices were also supported by equities rising after the US Supreme Court struck down Trump’s tariffs. Adding to bullish momentum, government data showed US crude inventories fell by 9 million barrels last week, marking the steepest draw since early September.

WTI crude oil fluctuated around the $66 per barrel level on Friday, hovering at a six-month high and heading for a weekly gain of 5%, after President Donald Trump set a deadline for Iran to reach a nuclear agreement. Trump signaled that negotiations would likely have no more than 10 to 15 days to advance. At the same time, the US has deployed its largest military buildup in the Middle East since the 2003 Iraq invasion, raising the prospect of a broader and more sustained operation than last June’s overnight strike on Iran’s nuclear facilities. The move has heightened the risk of supply disruptions, with investors concerned that a US-Iran conflict could prompt Iran to restrict traffic through the Strait of Hormuz, a critical corridor for crude exports from the region. Adding to bullish momentum, government data showed US crude inventories fell by 9 million barrels last week, marking the steepest draw since early September.

WTI crude oil futures traded above $66 per barrel on Friday, hovering at a six-month high and heading for a weekly gain of more than 5%, after President Donald Trump set a deadline for Iran to reach a nuclear agreement. Trump signaled that negotiations would likely have no more than 10 to 15 days to advance. At the same time, the US has deployed its largest military buildup in the Middle East since the 2003 Iraq invasion, raising the prospect of a broader and more sustained operation than last June’s overnight strike on Iran’s nuclear facilities. The move has heightened the risk of supply disruptions, with investors concerned that a US-Iran conflict could prompt Iran to restrict traffic through the Strait of Hormuz, a critical corridor for crude exports from the region. Adding to bullish momentum, government data showed US crude inventories fell by 9 million barrels last week, marking the steepest draw since early September.