Doha: prices are on track to post their biggest weekly decline since March 2023, as fears of widespread supply disruptions ease and prices retreat to levels seen prior to the recent escalation between Israel and Iran. Brent crude futures rose by 35 cents, or 0.52%, to 68.08 USD per barrel, while US West Texas Intermediate (WTI) crude gained 40 cents, or 0.61%, to 65.64 USD per barrel.

According to Qatar News Agency, despite these modest end-of-week gains, both benchmark crude contracts are heading for weekly losses of nearly 12%, effectively bringing prices back to levels recorded before June 13.