Diesel prices hit historic high in US

Diesel prices exceeded $6 per gallon in the US for the first time amid soaring oil prices related to ongoing tensions in the Middle East.

American Automobile Association data showed that the price of diesel reached $6.05 as of Friday.

Crude oil prices jumped by around 10% on a weekly basis on Friday due to the ongoing US-Iran war and related tensions in the Middle East.

The price of Brent futures was at $106 per barrel as of 0800GMT, while West Texas Intermediate traded at $101.

On Wednesday, US President Donald Trump said current high energy prices are related to US efforts to prevent Iran from obtaining a nuclear weapon.

Iran and Gulf states are expected to meet on Monday in Oman to discuss the temporary arrangement for managing shipping through Hormuz.

Meanwhile, Yemen's western coast witnessed rapid military developments, with media reporting Houthi advances on several fronts toward areas near Mocha and the Bab al-Mandeb Strait.