Oil prices climb amid Middle East supply concerns

Oil prices rose for a second consecutive day this Friday, fueled by renewed anxieties regarding supply stability in the Middle East. Despite this uptick, the market is heading toward significant weekly losses as investors speculate on a cooling of tensions with Iran. Brent crude futures rose by 1.53%, reaching $99.79 per barrel after having surpassed the $100 mark earlier in the session. Similarly, U.S. West Texas Intermediate crude increased by 1.16%, climbing to $91.57 per barrel.