Oil prices on the way to the highest week in US-Iran tension

The price of oil has risen in the international market on Friday, with global energy supply concerns over the past and US-Iran conflict, with crude oil prices rising for a week.

Brent Crude Futures price rose 15 cents or 0.2% to $95.67 per barrel around 7am Bangladeshi time on Friday. The price of the Texas Intermediate (WTI) crude rose 26 cents or 0.3 percent to 91.56 dollars.

The news agency Reuters reports that rising tensions in the Middle East and renewed US-Iran conflicts are likely to disrupt oil supply from the region, which is one of the main reasons for the rise in oil prices in the international market.

The price of Brent Crude has increased by 7.1 percent in the last one week, while WTI prices have risen 9.8 percent in the same period, making it the record for the biggest weekly price hike in both types of oil this week after July 20.

Market analysts are now looking at the situation in the Middle East. Tension in the region may create uncertainty over the supply of oil to the global market, which may create more pressure on crude oil prices in the coming days.