Oil prices are continuing their upward trajectory on Friday and are on track for a fourth consecutive monthly gain, Al Jazeera reports.
The increase came after a number of tankers were reported to have hit mines in the Strait of Hormuz, highlighting ongoing supply risks as the US-Israel conflict with Iran enters its eighth month.
Brent crude futures for December gained $1.20, or 1.04 per cent, to reach $116.08 a barrel as of 03:23 GMT, while US West Texas Intermediate (WTI) crude futures went up $1.37, or 1.34pc, to $103.37 a barrel.
For the month, Brent was on course to finish nearly 11pc higher, while WTI was heading for a 14pc jump.
