Oil slips Friday but week holds above $100; U.S. diesel hits record as Mocha + Hormuz squeeze persists
UPDATED · Fri. 8:00 a.m. EDT
Brent crude traded near $105–$106 a barrel early Friday and WTI near $100–$101 after slipping from Thursday’s highs, Reuters and The National reported, with both benchmarks still on track to finish the week above $100 for the first time since mid-May. Markets continued to price the dual chokepoint squeeze: Iran-aligned Houthis’ seizure of Yemen’s Mocha port near Bab el-Mandeb and the U.S.–Iran tanker war constraining Hormuz flows. U.S. diesel prices hit a record national average above $6 a gallon, adding to inflation and shipping-cost fears even as crude pared some overnight gains.
Refinery towers and process piping. File photograph used for layout; not from Friday’s oil prints or Mocha advance.
Pexels (free license; attribution not required)
Center-left view
Reuters and Bloomberg frame Friday’s pullback — Brent near $106 early, later softer — against record U.S. diesel above $6 a gallon and warnings that refined products may keep rising even if crude chops, as Hormuz transit stays depressed and Middle East supply gaps feed inflation and rate-hike talk.
Sources: Reuters · Bloomberg · CNN Business
Center-right view
The National and Reuters energy desks stress that despite Friday’s slip from Thursday’s surge, Brent and WTI remain on pace for a weekly finish above $100 as Houthi control near Mocha/Bab el-Mandeb and Hormuz tanker attacks keep dual-chokepoint risk elevated for Gulf and Red Sea export routes.
Sources: The National · Reuters · Fox News