Oil prices march to biggest weekly gain in months as MidEast tensions dominate
SINGAPORE: Oil prices were on track for a more-than-7 per cent jump this week, their biggest in months, as early trading on Friday saw gains extended on fresh tensions in the Middle East after a key Saudi Arabian supply hub was knocked out in an attack last weekend.
Friday’s rises came after a Saudi-led coalition launched a military operation north of Yemen’s port city of Hodeidah, as the United States worked with Middle East and European nations to build a coalition to deter Iranian threats after the Saudi attack.
