Oil prices edged lower on Friday but held near one-month highs amid the continuing standoff between Washington and Teran over control of the Strait of Hormuz.
Brent crude futures dipped 0.7 percent to $93.14 a barrel but were up more than 5 percent so far this week, marking their second consecutive weekly gain. WTI crude futures were down 0.8 percent at $86.17.
The Middle East conflict showed no signs of abating, with investors assessing how Washington’s economic campaign against Iran could affect oil flows.
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Market Analysis
Oil Headed For Second Weekly Rise On Supply Concerns
2026-08-21 09:37:23
