Oil Prices Are Set for a Weekly Loss Despite the Recent Rebound

Crude oil prices are on course to end the week with a loss, weighed down by demand concerns and a hypothetical increase in supply. Prices started the day trending higher following the news that Iran may be planning its retaliation against Israel’s latest attack and that the retaliatory strike could take place over this weekend, according to Israeli intelligence sources, cited by media. Per the reports, the attack was going to be carried out from Iraq and involve drones and ballistic missiles. The benchmarks ticked up following the news, with...