Reported 3 months ago
Oil prices experienced modest gains, with West Texas Intermediate closing at $74.38 per barrel, as President Biden urged Israel to consider alternatives to targeting Iran's oil facilities amid rising tensions following Iran's missile attacks on Israel. The week marked a significant increase in oil prices, largely fueled by concerns over potential interruptions in the Strait of Hormuz. Analysts suggest that Biden's administration is focused on avoiding higher oil prices before the upcoming elections.
Source: YAHOO