WTI crude oil prices climbed close to $79.00 on Friday, driven by escalating tensions between the US and Iran that threaten global oil supply. This increase marks the commodity's biggest weekly gain since April, reflecting concerns over potential disruptions in the energy market.
According to FX Street, WTI was trading around $79.00 during early European trading hours on Friday, indicating strong market momentum amid geopolitical uncertainties. The rise underscores how geopolitical risks continue to influence commodity prices significantly.
For Japanese investors, who rely heavily on imported energy resources, fluctuations in crude oil prices remain a critical factor impacting broader market sentiment and currency movements, particularly in the FX and equities sectors.