Brent crude approaches 110 dollars per barrel, marking its highest level since May.
- Brent crude oil reached $110 per barrel, its highest since May.
- Brent crude futures rose by $3.94, closing at $109.86 per barrel.
- West Texas Intermediate crude futures increased by $3.44, settling at $101.41 per barrel.
- Brent crude saw a weekly gain of 4.9%, reflecting market volatility.
Brent Crude Oil Approaches $110 per Barrel
Brent crude oil reached $110 per barrel during trading on Friday, marking its highest level since May. This surge occurred amid strong weekly gains in global oil markets.
Futures Prices Rise Significantly
At settlement, Brent crude futures increased by $3.94, equivalent to 3.7 percent, closing at $109.86 per barrel. This represents the highest closing price since May 19.
Meanwhile, West Texas Intermediate (WTI) crude futures rose by $3.44, or 3.5 percent, reaching a settlement price of $101.41 per barrel. This closing price is the highest since September 17.
Weekly Gains Highlight Market Volatility
On a weekly basis, Brent crude saw an increase of 4.9 percent, while West Texas Intermediate recorded gains of 10.4 percent. These fluctuations reflect the ongoing volatility in global energy markets.
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