Oil prices rise and are on track for the steepest weekly gain since mid-July as rising tensions and renewed US-Iran hostilities heightened concerns over Middle East supply risks, according to Reuters.
Brent crude futures LCOc1 rise 15 cents, or 0.2 per cent, to $95.67 a barrel at 0100 GMT, while U.S. West Texas Intermediate crude futures CLc1 were up 26 cents, or 0.3pc, at $91.56.
On a weekly basis, Brent rose 7.1pc and WTI was 9.8pc higher, set for the highest gains since the week ended July 20.
