News Oil Updates – crude rebounds on Middle East tensions but set for weekly loss

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SINGAPORE: Oil prices rose on Friday as heightened tensions in the Middle East raised the risk of supply disruptions from the oil-producing region, though prices are set for weekly losses amid expectations of fewer US interest rate cuts this year, according to Reuters.

Brent crude futures climbed 75 cents, or 0.84 percent, to $90.49 a barrel by 9:30 a.m. Saudi time, while US West Texas Intermediate crude futures rose 87 cents, or 1.02 percent, to $85.89.

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