Brent futures fell 1.6% to $94.40/bbl and WTI slipped 1.8% to $96.13/bbl, marking >13% weekly loss.
March US CPI rose 0.9% MoM and 3.3% YoY, driven by a 10.9% MoM jump in energy prices.
Tanker traffic in the Strait of Hormuz fell below 10% and Saudi output dropped ~600,000 bpd and throughput down ~700,000 bpd.
Fragile ceasefire between the US, Israel and Iran holds, but Israel launched airstrikes on Hezbollah, keeping oil market uncertainty high.