IEA warns oil tightness may persist beyond the war; Brent settles near $108 as Hormuz talks stall

The International Energy Agency said global oil supply constraints are likely to linger even after the war ends, signaling to markets that the current shortage could prove longer-lasting. Brent crude rose to $108 on Friday, finishing the week up 8% as negotiations over the Strait of Hormuz failed to gain traction. Since the conflict began, only a limited number of tankers have departed the Persian Gulf.