Oil Prices Set For Weekly Gains As Hormuz Disruptions Hit Shipments

Global oil prices remained on course for weekly gains on Friday as disruptions to Middle Eastern petroleum shipments continued to constrain supply routes, raise transportation costs and increase uncertainty in energy markets.
Brent crude futures traded near $106 per barrel, while West Texas Intermediate (WTI), the United States benchmark, hovered around $98 per barrel.
WTI was poised for a substantially larger weekly gain than Brent, partly supported by a sharp decline in US crude inventories.
The difference in their performance highlights how regional supply conditions, transportation disruptions and inventory changes can affect the two major oil benchmarks differently.
A major c...