Oil Market News: Brent Ends Above $103 as Fujairah Attack Deepens Hormuz Supply Fears
Oil prices rose after a drone attack halted some loading at Fujairah, UAE, outside the closed Strait of Hormuz. Brent settled at $103.14 a barrel Friday. The IEA warned of the largest ever oil supply disruption, with global supply set to drop 8 million barrels per day in March. Governments pledged emergency reserves, but relief efforts face uncertainty amid ongoing threats to infrastructure.