Oil prices moved higher in global markets on Saturday as growing tensions in the Middle East increased concerns about global oil supplies. The market also continued to see strong fluctuations after several volatile trading sessions during the past week.
Brent crude closed at $101.29 per barrel, rising 1.23%, while US West Texas Intermediate crude settled at $95.42 per barrel, up 0.64%.
The gains came as investors closely watched developments in the Middle East, along with updates related to oil exports and US crude inventories. Concerns about possible supply disruptions continued to support prices.
Oil markets saw major swings throughout the week. Brent crude had dropped close to the $100 level during some sessions before bouncing back again as geopolitical worries returned to the spotlight.
