‎Oil prices set for biggest weekly gain since July

‎<p><img src="https://argaamplus.s3.amazonaws.com/f1671d69-917f-4595-be6d-05104903ed1e.png" ></p> <p class="ckeCaption" >On a weekly basis, Brent crude rose 7.6%, while US crude gained 10.4%.</p> <hr> <p >Oil prices rose in Friday’s trading, heading for their biggest weekly gains since mid-July as tensions escalated and military operations between the US and Iran resumed, heightening concerns over risks to Middle East supplies.</p> <p ></p> <p >On a weekly basis, Brent crude rose 7.6%, while US crude gained 10.4%, marking their biggest weekly gains since the week ended July 17, according to Reuters.</p> <p ></p> <p >ANZ analysts raised their near-term Brent price forecast to $95 a barrel, with upside risks if the conflict in the Middle East escalates.</p> <p ></p> <p >Markets are awaiting the release of US oil and gas rig count data from Baker Hughes later today to assess the outlook for US supplies.</p> <p ></p> <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="4" > <p ><strong><span >Change in Futures Prices of the Two Benchmark Crudes</span></strong></p> </td> </tr> <tr > <td > <p ><strong><span >Crude</span></strong></p> </td> <td > <p align="center" ><strong><span >Price ($/bbl)</span></strong></p> </td> <td > <p align="center" ><strong><span >Change ($)</span></strong></p> </td> <td > <p align="center" ><strong><span >Change (%)</span></strong></p> </td> </tr> <tr > <td > <p ><strong><span >Brent (November Delivery)</span></strong></p> </td> <td > <p align="center" ><span >95.65</span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >+</span></span></span><span >0.13</span></p> </td> <td > <p align="center" ><span >+</span><span dir="RTL"><span ><span >0.15</span></span></span><span >%</span></p> </td> </tr> <tr > <td > <p ><strong><span >NYMEX (October Delivery)</span></strong></p> </td> <td > <p align="center" ><span >91.67</span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span >+</span></span></span><span >0.37</span></p> </td> <td > <p align="center" ><span >+</span><span dir="RTL"><span ><span >0.40</span></span></span><span >%</span></p> </td> </tr> </tbody> </table> <div ><em class="ckeCaption" >*As of 7:52 a.m. KSA time.</em></div>

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Argaam - Main News · Trade Publication

Published

4th September 2026

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argaam.com

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