Crude oil prices rallied by nearly 9 percent this week, registering their best weekly performance in roughly two years amid severe geopolitical tensions in the Middle East.
November West Texas Intermediate crude oil prices finished the session up by $0.96, or 1.3 percent, at $74.67 per barrel. U.S. crude registered a weekly gain of 8.8 percent, the biggest weekly increase since October 2022, lifting its year-to-date gain by nearly 5 percent.
