Oil prices ease but are set for 10% weekly gain as Trump mulls 'bigger than ever' attack on Iran

An oilfield crew, contracted by the Railroad Commission of Texas (RRC), works a service rig during a state-funded oil well plugging operation in Midland, Texas, US, on Thursday, Sept. 25, 2025. Eli Hartman | Bloomberg | Getty ImagesOil prices dropped by around 4% early on Friday, but remained on track for a weekly jump of 10% as the U.S.-Iran war continued to escalate. At 5:20 a.m. ET, global benchmark Brent crude futures for July delivery were 4% lower at $96.72 a barrel and heading toward a weekly gain of 9.7%. U.S. West Texas Intermediate crude futures were also 3.4% lower, trading at $89.06 per barrel but up 8% for the week. Stock Chart IconStock chart iconCrude oil futuresOvernight, the U.S. Central Command completed its 13th consecutive night of strikes on Iran, targeting military command centers, drone storage facilities, communication networks, coastal surveillance sites, and maritime capabilities. Centcom said the strikes were intended to "further diminish the threat Iran poses to civilian mariners and commercial vessels transiting the Strait of Hormuz.""The international waterway remains open for transit despite recent attacks from Iran's Islamic Revolutionary Guard Corps...