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WASHINGTON: Oil prices increased on Friday after U.S. President Donald Trump renewed his threats against Iran, raising concerns about potential military action and disruptions in oil supply. According to Reuters, the price of Brent crude rose to $64.41 per barrel, while U.S. crude climbed to $59.69 per barrel. This uptick followed a decrease of about two percent in prices on Thursday. Trump announced that military ships have been sent toward Iran but expressed hope that their deployment would not be necessary. Iran is the fourth-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and is one of the main oil exporters to China, the world’s second-largest oil consumer.
