Oil Prices Poised for a Weekly Gain as Bullish Sentiment Builds

Crude oil prices were on course to post a weekly gain earlier today despite some strong headwinds that blew the benchmarks lower earlier in the week. A fresh round of Israeli airstrikes on Gaza once again raised the war premium on crude, pushing Brent and WTI higher as the prospect of a ceasefire moved further in the distance yet again. In the U.S., better-than-expected unemployment figures quenched concerns about the world’s biggest consumer of oil. Interestingly, it was a jobs report that pushed oil prices lower earlier in the week. The…