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Energy Preview: WTI crude oil set for weekly gain of over 12%
24-Jul-2026 08:40

International oil prices stall its massive rebound on Friday morning in Asia following a sharp surge overnight as the United States launched its 13th consecutive day of strikes against Iran, with both nations firmly ruling out near-term diplomatic talks. As per reports, President Trump also threatened major military punishment against Iran and the Houthis over any further attacks on Red Sea shipping and said he was considering a massive attack on Iran. Escalating tensions in the Middle East stoke intense fears of widespread global oil supply disruptions. WTI crude oil is seen at $91.80 per barrel, lower on the day but still holding around a 7 week high and all set for a weekly gain of over 12%. Meanwhile, Brent oil is trading above $100 per barrel mark.

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