Oil climbs as Middle East tensions and China export limits tighten supply

Oil markets nudged upward on Friday as fresh U.S. deployments to the Middle East and China’s decision to suspend fuel exports sparked renewed supply anxieties. Reports indicated that the United States is sending a third aircraft carrier and up to 10,000 extra troops to the region, actions linked to President Donald Trump’s deliberations on further strikes against Iran. China, which had eased earlier export curbs, again restricted shipments of diesel, gasoline and jet fuel during a holiday period, leaving exporters uncertain about post-holiday policies.

Brent crude rose modestly, while WTI also inched higher, though both benchmarks remain set for a weekly drop. The price surge follows a sharp rally the previous day, reflecting ongoing volatility as the Middle East conflict extends beyond seven months. Meanwhile, the U.S. has asked Germany and France to lower emergency diesel stocks to help temper soaring global fuel prices.