Oil prices rose on Friday, with Brent crude futures climbing approximately 0.6 percent to around $113.83 per barrel, amid fears of supply disruptions and targeting of energy infrastructure in the Middle East, Russia, and Ukraine.
By 8:30 GMT, US crude futures had risen 1 percent to around $100.4, amid ongoing energy supply disruptions due to the US war on Iran.
Geopolitical Developments
The price increase comes amid continued uncertainty regarding global supplies, with geopolitical developments in the Middle East increasing pressure on markets, and amid diesel market disruptions resulting from attacks on energy infrastructure in Russia and Ukraine.
Trump's Statements
In the context of developments related to Tehran, US President Donald Trump told reporters at the White House on Thursday that his country had inflicted "serious damage" on Iran in several respects, adding, "Perhaps we can go a little further."
In response to a question about voter satisfaction regarding developments related to Iran and fuel prices ahead of the midterm congressional elections scheduled for November 3, Trump said that some people are satisfied, while others feel dissatisfied.
Military Escalation
Western reports speak of US-Israeli preparations to launch a wide-scale attack on Iran, amid ambiguity regarding the timing of its execution due to the US midterm congressional elections.
The Iranian Revolutionary Guard also announced on Thursday that it targeted four ships in the northern part of the Arabian Gulf, stating they were transferring oil shipments from one ship to another.
The military escalation began with the US-Israeli aggression against Iran on February 28 last year, followed by a ceasefire in April.
Confrontations between Washington and Tehran resumed later amid stalled negotiations, despite both sides signing a memorandum of understanding in mid-June.
Source: Anadolu Agency
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