Oil prices rise as supply concerns linger amid Houthi attacks on Saudi Arabia

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Oil prices rose on Friday after Houthi attacks in Saudi Arabia stoked concerns of further disruption to energy supplies from the Middle East, Reuters reports.

Brent crude futures climbed 58 cents, or 0.5 per cent, to $113.75 a barrel as of 0439 GMT, while US West Texas Intermediate crude futures rose 66 cents, or 0.7pc, to $100.13.

On a weekly basis, Brent, which settled at its highest since May 4 on Thursday, is set to close higher for a third successive week, while WTI is on track to finish lower, following two weeks of gains.

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