Renewed military conflict between the United States and Iran, combined with bullish U.S. inventory data, drove WTI crude to its strongest weekly gain in months as traders rapidly rebuilt a geopolitical risk premium.

Escalating military tensions between the United States and Iran continued to lift oil prices on Friday, putting crude benchmarks on track for their biggest weekly gains in three…

Oil prices jumped 13% amid US-Iran tensions and Strait of Hormuz closure. New all-time high by December 31 at 11.5% YES.