Oil drilling rigs
Oil prices rose on Friday, heading for a third consecutive weekly gain, amid uncertainty over future supplies from Venezuela and escalating geopolitical tensions in Europe and the Middle East.
March Brent futures climbed about 0.75%, or 48 cents, to $62.47 a barrel by 09:08 am KSA time.
February WTI futures also gained 0.75%, or 45 cents, to $58.21 a barrel.
Market concerns were further heightened by civil unrest in Iran and fears that the Russia–Ukraine war could expand to target Russian oil exports.
Both benchmarks jumped more than 3% on Jan. 8 after two consecutive sessions of losses. Brent is on track to post a weekly gain of 2.7%, while WTI is set to rise 1.4%, according to Reuters.
Markets are also awaiting later on Friday the release of US oil and gas rig count data from Baker Hughes, which is expected to provide fresh signals on U.S. supply prospects.
https://www.argaam.com/en/article/articledetail/id/1871499
