Post: Oil Prices See Increase Amid Middle East Developments

Doha: Oil prices rose at the close of trading yesterday, while Brent crude was headed for a weekly loss of about 8 percent, pressured by developments in the Middle East. Brent crude futures climbed 66 cents, or 0.53 percent, to reach $80.38 a barrel, while US West Texas Intermediate crude rose 94 cents, or 1.23 percent, to $77.54 a barrel. According to Qatar News Agency, in its World Oil Outlook 2026 report, the Organization of the Petroleum Exporting Countries forecast that global oil demand would rise to 113.3 million barrels per day by 2030, up from 105.1 million barrels per day in 2025.