Oil prices jump 4%, with Brent crude surpassing $88 a barrel

Oil prices jump 4%, with Brent crude surpassing $88 a barrel

NEW YORK, 18th July, 2026 (WAM) -- Oil prices rose more than 4% at settlement on Friday, hitting their highest levels in over a month.

Brent crude futures rose $3.87, or 4.59%, to settle at $88.10 a barrel.

West Texas Intermediate (WTI) crude futures climbed $3.54, or 4.48%, to $82.49 a barrel.

Both benchmarks reached their highest levels since mid-June and have gained about 16% this week.

Brent is on track for its third consecutive weekly gain, while WTI is headed for its second.