From Quartz.

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Oil prices hovered near $100 on Friday as the U.S.-Israel war with Iran entered its third week, highlighting market strain.
Brent crude slipped to about $99 a barrel after closing above $100, while West Texas Intermediate traded near $94.
Both benchmarks logged outsized weekly gains, with Brent up more than 9% in five days and WTI posting its strongest week in over four decades, according to CNBC.
Former President Donald Trump said the United States has “unparalleled firepower, unlimited ammunition, and plenty of time” on Truth Social.
Axios, via CNBC, reported he told G7 leaders Iran was “about to surrender,” while Mojtaba Khamenei rejected capitulation in a televised address.
Defense Secretary Pete Hegseth downplayed concerns about an effective closure of the Strait of Hormuz, which carries about 20 million barrels of oil daily, per CNBC.
Attacks on commercial shipping near the strait continued, and Iran’s military spokesperson warned oil could reach $200 a barrel.
Even a record 400-million-barrel IEA emergency release and eased Russian oil sanctions have not lowered prices, complicating Trump’s earlier $50 target. #oilprices #straitofhormuz #iranconflict #energycrisis #globaleconomy

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