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Energy Markets Slip Weekly
(MENAFN) Energy commodities recorded mixed performance throughout the week and ultimately finished Friday lower, as uncertainty linked to ongoing geopolitical tensions in the Middle East continued to influence market sentiment.
Following news indicating a potential reduction in tensions between Iran and the United States, energy prices moved downward over the course of the week, resulting in overall weekly losses across key benchmarks.
Brent crude futures, which began the week trading above the $110 mark, concluded at $103.9 per barrel, reflecting a weekly decline of 5.25% by Friday’s close.
West Texas Intermediate (WTI) also experienced a downturn, falling by 4% to $96.9 per barrel compared with $106.5 in the previous week.
In Europe, Dutch TTF futures—serving as the primary natural gas benchmark—dropped by 4%, moving from €51 to €48.7 per megawatt-hour.
Heating oil prices likewise softened, decreasing by 3.6% to $3.9 by the end of the week compared to the prior week’s levels.
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