Crude oil prices are on track for a weekly gain as traders await details of U.S. measures aimed at economically isolating Iran, with the conflict that has sharply reduced Middle East oil exports showing no signs of resolution. U.S. Treasury Secretary Scott Bessent stated Thursday that the administration will unveil specifics of the plan next Monday, following President Donald Trump's characterization of the move as an "economic D-Day." The measures will target Tehran and could also affect nations that conduct business with Iran.

West Texas Intermediate (WTI) crude settled just above $87 per barrel, marking a sixth consecutive session of gains, while the global benchmark Brent crude also advanced, closing above $94 per barrel. Asian buyers are increasing their purchases of U.S. crude, providing significant support for demand. Elevated prices, however, have prompted refiners to keep procurement volumes below the highs seen prior to the Iran conflict. Dennis Kissler, head of energy trading at BOK Financial Securities Inc., noted that "Asia appears to be re-entering oil buying mode, restocking inventories ahead of winter demand. While the pace of purchases is slower than in previous years, it remains a positive factor for prices in the near term." October Brent crude rose 0.7% to settle at $94.39 per barrel, while October WTI crude gained 0.3% to close at $87.06 per barrel.