Oil prices have climbed back above $80 per barrel, marking their first weekly gain since early July, as traders monitor potential Iranian reprisals following the assassination of a Hamas leader in Tehran. Brent crude rose nearly 4% last week, and West Texas Intermediate approached $78. The market is also influenced by reduced bullish positions on Brent and low expectations for gasoline and diesel, while geopolitical tensions and a weak economic outlook in China weigh on sentiment. Upcoming market reports and U.S. inflation data are expected to provide further clarity on supply and demand dynamics.