Brent crude heads for a 17% weekly rise
Oil prices rose on Friday amid concerns over renewed military escalation in the Middle East, after Iran released footage showing special forces boarding a cargo vessel in the Strait of Hormuz. 
Brent crude futures for June delivery gained 0.5%, or 51 cents, to $105.58 per barrel as of 08:04 am KSA time.
US WTI crude futures for June rose 0.2%, or 21 cents, to $96.06 per barrel.
Brent has climbed more than 17% this week, while WTI is up over 15%, marking the second-biggest weekly gain since the conflict eruption, according to Reuters.
Markets are awaiting US oil and gas rig count data from Baker Hughes later today for further signals on supply.
Brent crude heads for a 17% weekly rise
Oil prices rose on Friday amid concerns over renewed military escalation in the Middle East, after Iran released footage showing special forces boarding a cargo vessel in the Strait of Hormuz.
Brent crude futures for June delivery gained 0.5%, or 51 cents, to $105.58 per barrel as of 08:04 am KSA time.
US WTI crude futures for June rose 0.2%, or 21 cents, to $96.06 per barrel.
Brent has climbed more than 17% this week, while WTI is up over 15%, marking the second-biggest weekly gain since the conflict eruption, according to Reuters.
Markets are awaiting US oil and gas rig count data from Baker Hughes later today for further signals on supply.
