Oil prices moved lower on Friday as markets prepared for a second weekly decline, with traders assessing the impact of the continuing US blockade on Iranian oil shipments. The latest movement followed a volatile week in which hopes for reduced tensions in the Middle East were balanced by attacks on shipping and energy facilities. Brent crude fell to around $95.54 a barrel, while US West Texas Intermediate declined to about $88.18. Both major benchmarks were heading towards a weekly loss of roughly 2.9 percent. The market has remained sensitive to political decisions because the region plays a major role in global oil supply.
President Donald Trump said the United States did not need a deal with Iran to end the conflict, suggesting that Washington could continue relying on economic sanctions and restrictions on oil shipments. Some market analysts believe this approach reduces the chance of an immediate military escalation that could cause a larger supply shock. However, the risks have not disappeared. Attacks on Saudi infrastructure by Yemen’s Iran-aligned Houthi movement and reports of explosions involving tankers have kept shipping security in focus. Iran’s military said four tankers had been hit in the Strait of Hormuz, although Reuters said it could not independently verify those claims.
The Strait of Hormuz remains one of the world’s most important routes for crude oil exports, connecting major Gulf producers with international markets. Any serious disruption could quickly push energy prices higher and increase transport and production costs for businesses. At the same time, rising US crude and fuel inventories have added pressure to prices, as they suggest demand may be weaker than expected. Brent had already fallen sharply during the previous week, and the latest decline shows that traders are weighing both supply risks and signs of softer consumption. Energy companies and governments will continue watching the region closely because the market remains vulnerable to sudden political and security developments.
