Oil prices ease but are set for 10% weekly gain as Trump mulls 'bigger than ever' attack on Iran
- Posted on July 24, 2026
- By CNBC
- 1 Views
- 1 min read
In brief
Crude oil markets experienced a moderate pullback on Friday, declining approximately 4% amid volatile trading conditions. However, the week concluded with substantial gains as geopolitical tensions between the United States and Iran intensified significantly. Potential military escalation and threatened retaliatory measures supported bullish sentiment throughout the trading week, pushing prices toward double-digit weekly increases despite short-term profit-taking.
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Oil prices ease but are set for 10% weekly gain as Trump mulls 'bigger than ever' attack on Iran
Oil prices dropped by around 4% on Friday, but remained on track for a weekly jump of 10% as the U.S.-Iran war continued to escalate.
