Manama: Oil prices extended gains on Friday: Brent crude futures rose 1.2% to $83.48 a barrel, while US West Texas Intermediate (WTI) crude futures gained 1.1% to $78.84 a barrel.
According to Bahrain News Agency, both benchmarks had settled more than $3 a barrel higher in the previous session. The increase in prices reflects ongoing market dynamics that continue to influence the global oil market. The recent upward trend in oil prices has drawn attention to factors such as supply constraints and geopolitical influences that have impacted the energy markets worldwide.
The rise in Brent and WTI futures indicates a sustained demand in the energy sector, with market participants closely monitoring the developments that could further affect oil prices. The latest figures highlight the volatility and responsiveness of the oil market to various factors, underscoring the importance of tracking these changes for stakeholders in the industry.