Brent crude hovers near $94 as US-Iran tensions disrupt supply

Brent crude traded at $93.89 per barrel around 7:30 am IST on Friday, after gaining 2.4% in the previous session. US West Texas Intermediate stood at $86.84 per barrel, following a 2.3% rise. Both benchmarks were on course for a second straight weekly gain, with Brent having risen more than 7% and WTI more than 8% over the previous five sessions, reaching their highest levels since July 24. The latest gains followed a more than 2% jump on Thursday, when prices settled at their highest in nearly a month. The ongoing US-Iran conflict has continued to disrupt energy supplies, and prices rose after US President Donald Trump warned.