- Crude oil futures rebounded Thursday, ending a three-session losing streak after reports that President Trump rejected a return to U.S.-Iran memorandum-of-understanding terms.
- The report linked the policy stance to higher geopolitical tension and renewed supply-risk concerns around the Strait of Hormuz.
- Elevated oil prices coincided with the Philippine peso weakening beyond 62 per dollar, a level analysts identified as one that could prompt official support.
Quotes
“Crude oil futures snapped a three-session losing streak and settled higher Thursday”
“The Philippine peso weakened past 62 per dollar on Friday”