Brent crude settled at $116.72 a barrel on Friday, up $3.55 or 3.1%, its highest close since April 29, as Houthi attacks on Saudi Arabia raised concern about further disruption to Gulf energy supplies, Reuters reported.
US West Texas Intermediate crude settled at $103.27 a barrel, up $3.80 or 3.8%.
Brent gained 6% over the week, its third straight weekly rise. WTI ended the week 2.3% higher.
The Iran-aligned Houthis have carried out a series of attacks across Saudi Arabia, including on energy infrastructure, Adam Turnquist, chief cross-asset strategist at LPL Financial, told Reuters.
Saudi Aramco ordered the evacuation of its headquarters in Dhahran on Thursday, Reuters reported.
The UAE Ministry of Climate Change and Environment said on Friday that an oil spill from a tanker had been detected off the coast of Umm Al Quwain. It did not say what caused the spill and has not identified the tanker.
October has been the worst month for attacks on commercial shipping in the Strait of Hormuz and nearby waters, according to data from a Washington-based think tank that tracks maritime security incidents.
Andrew Lipow, president of Lipow Oil Associates, told Reuters that more oil was moving out of the Strait of Hormuz but that this “could change at any minute.”
US President Donald Trump said on Friday that the United States could end the war with Iran quickly, but that it might allow the conflict to wind down gradually.
