Oil posts weekly gains amid fears of renewed US-Iranian fighting

16 May 2026
GOLD ALSABAEK
Oil posts weekly gains amid fears of renewed US-Iranian fighting

Oil prices rose at settlement, posting weekly gains, on Friday, May 15, after US President Donald Trump said he would not be patient any longer with Iran, amid continued fears of attacks on and seizure of ships, despite Tehran's announcement that about 30 vessels had crossed the Strait of Hormuz.