Eco
Global oil prices continued to rise on Friday, driven by expectations of ongoing gains following the upcoming U.S. midterm elections in November. This increase comes amid escalating tensions in the Gulf region and growing concerns over a potential renewed confrontation involving the United States, Israel, and Iran. Brent crude futures for December delivery rose by 1.1% to reach $114.43 per barrel, marking weekly gains of about 4% and an increase of 16.8% since the beginning of October. Meanwhile, U.S. West Texas Intermediate crude advanced by 1.5% to $101.05 per barrel, with weekly gains nearing 2%.
