Oil Prices Climb Toward $100 as Iran Ceasefire Doubts Deepen
Oil prices were climbing back toward the $100 mark in early Asian trade on Friday as traders weighed fresh attacks across the region and doubts over whether the already-fragile Iran ceasefire will hold. At the time of writing, WTI was trading at $99.17, up 1.33%, while Brent had climbed 0.92% to $96.80. On the supply side, Saudi Arabia’s energy ministry has confirmed that recent attacks on the Kingdom have cut its oil production capacity by roughly 600,000 bpd and reduced flows through the East-West pipeline by around 700,000 bpd. The Kingdom…