Mubasher: Oil futures went up at Friday’s settlement, as tensions arose in the Middle East after US president Trump said that he called off a strike against Iran at the last minute.  

August Nymex WTI grew $0.36, or 0.6%, to close at $57.43 per barrel, gaining 8.8% for the week.

Earlier today, US president Donald Trump stated that a military strike against Iran was cancelled at the last minute for the sake of saving 150 Iranian lives.