Oil benchmarks clawed back earlier losses on Friday as renewed geopolitical tensions in the Middle East refocused markets on potential supply disruptions. Comments from U.S. President Donald Trump referencing an American “armada” headed toward Iran helped lift prices after a sharp decline the previous day tied to shifting expectations around U.S.-Europe trade frictions. International benchmark Oil – Brent Crude traded near $64.50 per barrel, while U.S. benchmark Oil – US Crude hovered around $59.78, putting both contracts on track for weekly gains as traders reassessed geopolitical risk premia in an already tight supply backdrop.
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Over the past month, Brent has advanced about 3.34%, reflecting a steady recovery supported by supply concerns and improving risk appetite, while WTI has risen roughly 2.48%, underperforming slightly as U.S. inventory trends and domestic production levels continue to temper bullish sentiment. From a short-term technical perspective, both benchmarks are flashing constructive signals: Brent’s 1-day technical outlook stands at Buy, and WTI likewise shows a 1-day Buy signal, indicating that momentum indicators currently favor the upside despite headline-driven volatility. Investors can explore more updates, prices, and analysis across global markets at Commodities.