Brent crude futures increased 70 cents, or 0.94 percent, to $75.08 per barrel by 1512 hours. GMT, while US West Texas Intermediate crude futures rose 67 cents or 0.95 percent to 70.86 dollar.
Prices witnessed fluctuations this week, as they rose on Monday and Tuesday before falling on Wednesday and Thursday, and all of this was largely related to expectations of an increase or decline in risks in the Middle East..
The Lebanese Ministry of Health said that three journalists were killed in southern Lebanon as a result of an Israeli raid early on Friday morning, while the United Nations High Commissioner for Refugees warned that Israeli air strikes on a Lebanese border crossing with… Syria Impeding refugees’ attempts to flee the war.
US Secretary of State, Anthony Blinken, stressed that there is an urgent need to reach a diplomatic solution to the conflict in Lebanon, the day after he said that Washington does not want the Israeli campaign in Lebanon to prolong, calling for the protection of civilians..
In the coming days, American and Israeli negotiators are expected to resume talks aimed at reaching a ceasefire agreement and the release of the hostages..
Investors are still waiting for a response Israel On the missile attack launched by Iran on October 1, which may include striking Iran’s oil infrastructure, although media reports said last week that Israel would strike military, not nuclear or oil, targets..
Investors are also looking forward to a clarification of China’s stimulus policies, although analysts do not expect such measures to significantly boost oil demand..
Yesterday, Thursday, Goldman Sachs kept its oil price forecast unchanged at a level ranging between $70 and $85 per barrel of Brent crude in 2025, and expected that the impact of any stimulus in China would be modest compared to larger factors such as oil supplies from the Middle East..