Manama: Oil prices rose slightly on Friday but remained on track for weekly losses as investors assessed the impact of supply disruptions on global markets. Brent crude futures rose 50 cents (0.72%) to $70.02 per barrel, while West Texas Intermediate (WTI) futures increased 61 cents (0.9%) to $68.15 per barrel. However, Brent is expected to post a 0.5% weekly decline, with WTI down 0.4% for the week.
According to Bahrain News Agency, The gains were supported by concerns over supply shortages due to export restrictions on Russian oil, despite the resumption of flows through a pipeline to Trkiye after a two-year halt. The market remains cautious as traders evaluate the long-term impact of these disruptions on global supply and demand dynamics.