Oil prices rose more than 4% on Friday after the United States and Iran intensified their attacks across the Gulf region, disrupting oil flows through the Strait of Hormuz, while Tehran asked the Houthis to prepare to close the export corridor through the Red Sea.
Brent crude futures rose $3.46, or about 4.11%, to $87.69 per barrel by 17:33 GMT, and US West Texas Intermediate crude futures increased $3.34, or 4.23%, to $82.29 per barrel.
Both benchmarks rose by about 15% this week, as Brent crude oil is heading towards achieving its third weekly gain in a row, while US crude oil is heading towards achieving its second weekly gain.
