
Crude oil prices had their biggest weekly gains in more than a year because of the expanded fighting in the Middle East where Israel launched a ground attack on Hezbollah in Lebanon and Iran opened fire with a missile attack on Israel.
As a result, nervous investors still feared the attack might lead to destruction of Iran’s oil supplies and shipments.
West Texas Intermediate crude, considered the standard in the U.S. gained 67 cents on Friday or 0.9% and closed at $74.38 a barrel on the New York Mercantile Exchange.
Brent crude, the global benchmark, rose 43 cents or 0.6% and finished the day at $78.05 a barrel on ICE Futures Europe.
Gainers outnumbered losers when it came to Oklahoma energy firms. Three percent jumps were recorded by a handful of firms, including Canoo, Helmerich & Payne, and Williams.
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