This article was written by

Follow

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Benchmark U.S. oil futures added 6.9%, or $5.59 a barrel to end the week at $87.06. They’ve traded higher for six consecutive sessions, 11 of the past 12 and are now about 37% higher than a year ago.

Brent crude futures, a global price gauge, rose Friday to settle at $94.39 a barrel.

The U.S. average retail price of a gallon of regular unleaded gasoline ended the week at about $4.10, according to Dow Jones Energy. National average diesel prices pushed closer to their May highs, hitting $5.57 a gallon on Friday.

Treasury Secretary Scott Bessent’s bond market intervention this week lit a fire under gold and silver. Prices of the precious metals rose sharply again Friday. It’s a bit hard to square with rising bond yields, which makes holding precious metals a tough sell compared to just plonking the money in a savings account. But worries about America’s fiscal situation have a way of inspiring gold bugs.

Front-month gold futures added 5.6%, or $243.70 a troy ounce this week to settle Friday at $4,624.10. It was the third straight weekly gain for the precious metal, which has gained more than 14% over that span.

Silver futures, also on a three-week winning streak, rose even more. They gained 6.9% this week to end at $69.466 a troy ounce, the highest price since June 17.