Oil prices rose on Friday, putting both benchmarks on track for their largest weekly gains since mid-July, as escalating US-Iran tensions raised concerns about Middle East crude supply disruptions.
Oil prices edged higher on Friday and were headed for their biggest weekly gain since mid-July, driven by escalating tensions between the US and Iran that raised concerns over crude supply disruptions from the Middle East.
Brent crude futures rose 15 cents, or 0.2%, to $95.67 a barrel at 0100 GMT, while US West Texas Intermediate crude gained 26 cents, or 0.3%, to $91.56.
For the week, Brent was up 7.1% and WTI had gained 9.8%, putting both benchmarks on course for their strongest weekly advances since the week ended July 20.
The gains followed US attacks this week that killed and wounded dozens, including Iranian civilians, in what sources described as the fiercest clashes between Washington and Tehran since July.
The conflict, which began with US-Israeli strikes at the end of February, has now entered its seventh month, according to the report.
Oil prices rose on Friday, putting both benchmarks on track for their largest weekly gains since mid-July, as escalating US-Iran tensions raised concerns about Middle East crude supply disruptions.
Oil prices edged higher on Friday and were headed for their biggest weekly gain since mid-July, driven by escalating tensions between the US and Iran that raised concerns over crude supply disruptions from the Middle East.
Brent crude futures rose 15 cents, or 0.2%, to $95.67 a barrel at 0100 GMT, while US West Texas Intermediate crude gained 26 cents, or 0.3%, to $91.56.
For the week, Brent was up 7.1% and WTI had gained 9.8%, putting both benchmarks on course for their strongest weekly advances since the week ended July 20.
The gains followed US attacks this week that killed and wounded dozens, including Iranian civilians, in what sources described as the fiercest clashes between Washington and Tehran since July.
The conflict, which began with US-Israeli strikes at the end of February, has now entered its seventh month, according to the report.