Oil prices edged lower on Friday as inflation concerns weighed on demand, but crude remained on track for strong weekly gains amid renewed US-Iran strikes and uncertainty over the Strait of Hormuz
Brent crude futures gained $1.38, or 1.9%, to $75.54 a barrel, and US West Texas Intermediate crude climbed to $71.81 a barrel, up $1.37, or 1.9% at 0128 GMT
Brent crude futures gained 28 cents, or 0.39%, to $72.29, and US WTI crude rose to $68.84 a barrel, up 29 cents, or 0.26% as of 0046 GMT, after settling down to around pre-Iran war levels on Monday
Brent futures climbed 46 cents, or 0.64%, to $72.26 a barrel as of 0407 GMT. West Texas Intermediate was up 32 cents, or 0.47%, to $69.01 a barrel
Petroleum Minister Hardeep Singh Puri said rising crude prices during the West Asia conflict led to ₹74,781 crore in losses for state-run OMCs till June 30
Brent futures rose 50 cents or 0.69% to $73.45 a barrel at 1208 GMT, while US West Texas Intermediate (WTI) crude climbed 63 cents, or 0.91%, to $70.13 a barrel
Brent crude fell 10.6% last week, its third weekly decline, after crude shipments through the strait rose last week to their highest level since the US-Israeli conflict with Iran began in February
Brent crude futures settled at $71.99 a barrel, down $3.27, or 4.34%. US West Texas Intermediate finished at $69.23 a barrel, down $2.69 or 3.74%
Brent crude futures fell 19 cents, or 0.25%, to $75.07 a barrel as of 0055 GMT, while US West Texas Intermediate fell 13 cents, or 0.18%, to $71.79 a barrel
Brent crude futures fell 78 cents, or 1.0%, at $76.30 a barrel as of 0350 GMT. US West Texas Intermediate slipped 78 cents, or 1.1%, to $72.43 a barrel
Prices fell more than 3 per cent on Monday after the United States granted Iran a 60-day sanctions waiver following initial peace talks
On Monday, oil prices fell nearly 5 per cent to their lowest close since March 4, after US President Donald Trump said a memorandum of understanding was signed to end the US-Israeli war with Iran
Brent futures were down $2.11 or 2.3 per cent at $88.27 a barrel by 0640 GMT, while US West Texas Intermediate (WTI) crude dropped $1.90, or 2.2 per cent, to $85.81
Prices have been volatile in recent sessions, swinging by as much as $6 for both benchmarks on conflicting signals over a possible end to the three-month US-Israeli war on Iran
The rupee weakened against the dollar as crude oil prices surged following fresh US strikes on Iran and concerns over disruptions in the Strait of Hormuz
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US West Texas Intermediate was at $99.85 a barrel, up $4.43, or 4.64 per cent
Brent crude futures were up $1.41, or 1.41 per cent, at $101.47 a barrel as of 0123 GMT
Brent's June contract hit $126.41 a barrel on Thursday, marking the highest level since March 2022, before ending the session down
Brent crude futures rose $2.16, or 2.05%, to $107.49 a barrel by 2346 GMT, the highest since April 7, and US West Texas Intermediate was at $96.17 a barrel, up $1.77, or 1.88%