Oil prices rose on Friday as traders braced for the possibility of a war with Iran extending into April, amid continued attacks across the Middle East and near-complete gridlock through the vital Strait of Hormuz.
Brent crude climbed to nearly $110 a barrel after erasing earlier losses, while West Texas Intermediate crude approached $96. US President Donald Trump postponed the deadline for targeting Iran's energy infrastructure by 10 days, extending uncertainty over the war's trajectory into next month.
Carl Larry, an oil and gas analyst at Inverios, said the market is beginning to realize there is no certain end to the conflict, adding that the risks remain skewed to the upside as the weekend approaches.
XAUUSDT
Perp
4,519
+0.46%
XAGUSDT
Perp
69.95
+0.12%