Oil Ignores Escalation, Logs Biggest Weekly Drop Since 2025

Despite the ongoing escalation in the Middle East, crude heads for its biggest weekly loss in months. Friday, April 10, 2026 Is there a ceasefire or not? That is the ultimate question asked by the oil markets as the Strait of Hormuz remains open, strikes on energy infrastructure in the Middle East continue unabated (one could even say the damage reported by Saudi Arabia should be a turbocharger for prices) and the Lebanese issue continues to escalate. Nevertheless, oil is set to post its largest weekly loss since July 2025, with ICE Brent closing…