WTI crude oil futures closed with a 0.9% gain, boosting its weekly increase to over 9%, marking its largest weekly rise in more than a year. This surge is primarily driven by traders' concerns over potential Israeli attacks on Iran's oil facilities, following Tehran's major ballistic missile strike on Israel earlier in the week.
The November delivery of West Texas Intermediate (WTI, Financial) crude rose by 67 cents, or 0.9%, closing at $74.38 per barrel. The previous week's close was at $68.18 per barrel, resulting in a total increase of $6.20, or 9.09%, since then.
