The Unfolding Drama of U.S. Oil Sanctions on Iran and Tense Middle Eastern Relations

Crude oil futures experienced a minor dip on Friday, capping off their second consecutive week of gains amidst intense market volatility. The tumultuous trading climate has been shaped by wavering expectations concerning Israel’s potential reaction to Iran’s recent large-scale missile assault. Notably, there are palpable fears that any retaliatory strike from Israel could directly impact Iran’s oil reserves.