Oil prices advanced on Friday, extending strong weekly gains across both major crude benchmarks. Moreover, market sentiment strengthened amid tighter supply expectations and sustained buying momentum.
Brent crude futures rose $3.54, or 3.35%, to settle at $109.26 per barrel. Additionally, US West Texas Intermediate (WTI) crude futures increased by $4.25, or 4.2%, closing at $105.42 per barrel.
Over the week, both benchmarks recorded significant gains. Brent crude climbed 7.84%, while WTI surged 10.48%, thereby reflecting heightened volatility and strong upward momentum in energy markets.
