Brent tops USD 88, up 16% on the week

Brent crude rose 4.6% to roughly USD 88 a barrel, a 16% increase from the prior week, while U.S. crude rose 4.5% to USD 82.49. The State Department issued a worldwide caution urging Americans in the Middle East to exercise increased caution as the war continues.

Why this matters. A 16%-in-a-week move is the sharpest since the spring shock, confirming markets now treat the ceasefire as dead rather than under strain, with a State Department travel warning underlining how far the risk has spread.