Brent rises toward $109 on week-ahead Iran conflict fears

Brent crude climbed toward $109 per barrel on Friday and was on course for a gain of about 13% for the week, its biggest weekly rise since mid-July, as the escalating conflict between the US and Iran stoked concern over prolonged disruptions to global energy supplies. Top US officials reportedly warned President Donald Trump that the war could continue through the rest of his term, which ends in January 2029. Iranian leaders are reportedly determined to keep fighting despite mounting economic costs, viewing the conflict as an existential threat.

They also say Tehran has rebuilt its missile capabilities and could step up attacks on US and Gulf assets if Washington escalates its strikes. Fighting has intensified over the past two weeks, with the US targeting Iranian oil tankers and Iran launching missiles at US warships and tankers in the Persian Gulf, along with American assets in neighboring countries.