Energy Preview: WTI crude oil set for weekly gain of over 6%

WTI crude oil futures are seen inching slightly higher in early Asia on Friday following a more than 3% slide in the previous session. Oil has taken center stage since the US, Israel, Iran war began in March this year. The prolonged conflict and continued disruptions to energy flows through the Strait of Hormuz kept oil prices elevated, reinforcing concerns about inflation and the risk of higher interest rates. At the time of writing, the counter is quoting at $93 per barrel. For the week, the counter is set for weekly gain of over 6%. Brent is also trading higher by 0.4% at $95.31 per barrel.

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