Oil prices remained elevated on Friday despite a U.S. move to temporarily allow purchases of sanctioned Russian oil cargoes stranded at sea, as traders continued to focus on supply risks tied to the Iran conflict and severe disruption in the Strait of Hormuz. Brent crude hovered around $100 a barrel, with WTI in the mid-$90s, leaving both benchmarks on track for strong weekly gains. The waiver may ease some immediate tightness, but the dominant market driver remains the threat to Middle East energy flows and shipping security.
Oil holds near $100 as Hormuz disruption outweighs U.S. Russian-oil waiver
