Oil prices witnessed a rise of more than 1% at the close of trading on Friday, driven by the attacks that targeted oil tankers, in addition to the continued stalemate in negotiations regarding reaching a ceasefire agreement between the administration of US President Donald Trump and Iran.
Brent crude futures rose $1.45, or 1.67%, to $88.52 per barrel, while US West Texas Intermediate crude futures rose $1.15, or 1.42%, to $82.40 per barrel.
On a weekly basis, Brent crude oil is set to gain about 6%, while West Texas Intermediate crude is expected to rise by about 5.4%.
