Oil prices jump 3% amid Middle East supply concerns
Oil prices jump 3% amid Middle East supply concerns

New York: Brent crude rose 3.14% to $116.72 a barrel on Friday, reaching its highest level in nearly six months amid fears of further disruption to energy supplies from the Middle East.

Oil prices climbed by $3.55 a barrel at settlement. US West Texas Intermediate crude futures gained $3.80, or 3.8%, to close at $103.27 a barrel.

Both benchmarks recorded weekly gains, with Brent rising 6% over the week and WTI advancing 2.3%.

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