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Oil rose over 2% on Friday, with Brent settling up $1.72 at $70.36 and WTI up $1.88 at $68.45. The IEA said the market is tighter than it appears because of summer refinery runs, while investors weighed US tariffs and possible further Russia sanctions.
An IEA view of a tighter market plus sanction risk supports crude prices, raising energy and transport costs for feed buyers. The move is a routine weekly gain driven mostly by sentiment.
reuters.comStephanie KellyJul 11, 2025Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
