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The Independent
The Independent
UK · 23 mins ago
Oil on track for weekly gains as US-Iran strikes push ceasefire to brink
Oil prices fell marginally in early Friday trading but remained on track for weekly gains as the US and Iran strikes pushed the fragile ceasefire to the brink and raised fears of a return to full-scale war.West Texas Intermediate, the US crude benchmark, lost 4 cents, or 0.06 per cents, to $72.04 on Friday morning. Brent futures, the international benchmark, dropped 6 cents, or 0.08 per cent, to $76.24 a barrel early on Friday.Traders work on the floor of the New York Stock Exchange (NYSE) on July 09, 2026 (Getty)Despite Friday's slight decline, Brent was on track to post a weekly gain of around 6 per cent while WTI was set to rise about 5 per cent for the week after both contracts dropped more than 20 per cent in June when the ceasefire was agreed.It comes as the US and Iran continued to
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