Crude Rallying On Supply Disruptions And Middle East Geopolitical Risks

Authored by Michael Ball, Bloomberg macro strategist,

Oil is firmer Friday as the physical market is dealing with a cluster of near-term supply hiccups and an uncertain Middle East geopolitical backdrop.

Brent is back above $65 a barrel and WTI is above $61, with a weaker dollar adding a tailwind even as the broader 2026 narrative stays surplus-leaning.