Brent crude oil tops $116, a six-month high, as tensions swell in the Middle East
Source: CNBC ·
U.S. President Donald Trump accused Iran on Thursday of trying to manipulate the oil market.
From the source
Brent crude oil rose to a six-month high on Friday, as investors increasingly expect the U.S. to resume strikes on Iran in the coming weeks. Brent futures gained 3.1% to close at $116.72 a barrel, the highest settlement for the international benchmark since April 29. U.S. West Texas Intermediate added 3.8% to settle at $103.27 a barrel. Iran's army chief, meanwhile, said the country's military is fully prepared for "asymmetric warfare" after strengthening its capabilities, according to the state media agency Tasnim . Brent added 6.2% for the week, the third consecutive week of gains. WTI advanced 2% for the week. President Donald Trump said Wednesday that the U.S. was not negotiating with Iran and something would happen "fairly soon." His cryptic remarks came as U.S. officials told The New York Times that the U.S. and Israel have plans for fresh strikes on Iran after the midterm elections. Iran-allied Houthi militants have continued to strike Saudi Arabia.The U.S. State Department…