After U.S. and Iran’s nuclear talks ended in a stalemate raising more fears there will be an armed exchange in the Middle East, crude oil prices rose nearly 3% on Friday.
Investors are worried any armed launch by the U.S. will disrupting oil supplies out of the region. President Donald Trump told reporters on Friday that he wasn’t “exactly happy with the way” Iran was negotiating, reported Reuters. Still, oil prices ended the trading session with a two-week winning streak.
West Texas Intermediate crude ended 2.7% higher at $66.94 a barrel on the New York Mercantile Exchange.
Brent crude had a 2.8% gain to end the week at $72.79 a barrel.
Natural gas prices finished the week with another bump, settling at $2.859 MMBtu after a rise of $0.032 or 1.13%.
Another split day for Oklahoma energy stocks. Empire Petroleum recorded a gain of 8% while USA Rare Earth Inc. fell 6%.