Oil prices set to end week above $100 for first time in nearly 4 months

Oil supply disruptions due to the U.S.-Iran war, along with Ukrainian attacks on Russia's refineries, pushed the U.S. national average diesel price past $6 a gallon for the first time ever on Thursday, according to price tracker GasBuddy.

Still, U.S. President Donald Trump has not shown any signs of easing attacks on Iran. He warned the U.S. may hit Iran's Pickaxe Mountain near its heavily damaged Natanz uranium enrichment facility, but said he thought the war would end immediately after the November midterm elections.

Iran said it had attacked 10 ships near the Strait of Hormuz on Wednesday, after the U.S. hit five Iranian oil tankers. Iran's Islamic Revolutionary Guard Corps said it would escalate its response to any further attacks.

"With events spiralling and Iran showing it is willing to stretch this conflict as wide and as long as it can, it is becoming increasingly likely that WTI crude will retest the $119.48 high from early March," IG analyst Tony Sycamore said.