FX.co ★ Brent Rebounds to $110, Set for Over 7% Weekly Gain

Brent crude oil futures rose back toward $110 per barrel on Friday, the highest level since mid‑2022, as markets stayed highly sensitive to mounting tensions in the Middle East. Iran continued launching attacks across the region despite indications from Israel that it would refrain from targeting energy infrastructure, while both sides carried out new strikes, including in Tehran. Brent is on track for a weekly gain of more than 7%, with the Strait of Hormuz largely closed and disruptions deepening as the conflict enters its third week. Supply risks have intensified following refinery outages in Kuwait and the interception of missiles over Saudi Arabia. Efforts to contain prices include possible US moves to ease sanctions on Iranian oil and to release strategic reserves, though volatility remains elevated.