Oil & Gas Journal·4 min read·hard
Oil retreats from $100/bbl but posts strong weekly gain
C
Conglin Xu
✦AI Summary
Oil prices retreated from $100 per barrel following profit-taking, though they maintained strong weekly gains due to geopolitical tensions in the Middle East. Escalating attacks on tankers in the Red Sea and potential US-Iran conflicts continue to drive market volatility.
Oil prices pulled back on July 24 from the previous day's highs above $100/bbl but remained on course for a strong weekly gain, as escalating attacks on tankers in the Red Sea and rising tensions in the Middle East continued to fuel concerns over global supply security.
economyworldenvironment
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