Oil rises, set for steepest weekly loss since June 2025

10:54 AM (Mecca time) Argaam
Oil drilling rigs

Oil drilling rigs

Oil prices rose on Friday, but both benchmark contracts are down about 11% so far this week, marking the steepest weekly decline since June 2025.

 

June futures for Brent crude rose 0.95%, or 99 cents, to $96.91 per barrel as of 09:00 a.m. Makkah time.

May futures for WTI crude climbed 0.8%, or 72 cents, to $98.59 per barrel.

 

Attacks on Saudi energy facilities have cut the Kingdom’s oil production capacity by around 600,000 barrels per day and reduced flows through the East-West pipeline by about 700,000 bpd, the Saudi Press Agency reported, citing an official source at the Ministry of Energy.

 

Markets are awaiting US oil and gas rig count data from Baker Hughes later today for further signals on US supply outlook.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.