Oil prices are set to close the week above $100 a barrel for the first time in nearly four months with driven by escalating attacks on Middle Eastern shipping routes.

U.S. forces launched extensive missile strikes across Iran on Friday after President Donald Trump vowed "major military punishment" against Tehran and its Houthi allies in Yemen. The strikes target the

Global oil prices jumped over 4% on Monday following renewed military strikes between the US and Iran, raising fresh fears over the security of the Strait of Hormuz a critical

Iran’s Supreme National Security Council confirmed it is reviewing "new proposals" from the United States delivered via the Pakistani Army Chief acting as a mediator.

The brief hope for a free-flowing global oil supply was dashed on Saturday as Iran’s central military command announced it would resume "strict management" of the Strait of Hormuz.

Global oil prices declined on Friday, heading for their steepest weekly drop in six months, as easing geopolitical signals and policy moves by India helped calm markets.

The U.S. Treasury Department issued a general license on Wednesday allowing U.S. companies to do business with Venezuela’s state-owned oil company, Petróleos de Venezuela S.A. (PDVSA).