Brent Crude Falls Over 3% on Friday, But Maintains Weekly Gain Above 10%

According to Jin10, Brent crude futures fell over 3% on Friday (July 24) after briefly breaking through $100 per barrel. Despite the decline, the commodity maintained a weekly gain exceeding 10% due to heightened supply concerns.

Rystad Energy analyst Janis Shah attributed the upward pressure to ongoing U.S. strikes on Iran, increased Houthi involvement in the Red Sea, and disruptions to the CPC pipeline. Shah noted that the strait of Hormuz disruption has approached March peak levels.

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