Key facts
- Brent crude futures rose 0.75% to $115.74 a barrel.
- US West Texas Intermediate (WTI) crude futures rose 0.71% to $102.72.
- Brent was on course to finish nearly 14% higher for the month.
- WTI was heading for a 15% jump for the month.
Oil prices climbed in early trade on Friday, with Brent crude futures rising 0.75% to $115.74 a barrel and US West Texas Intermediate (WTI) crude futures gaining 0.71% to $102.72. For the month, Brent was on course to finish nearly 14% higher, while WTI was heading for a 15% jump. The gains were driven by supply concerns after Yemen's Iran-aligned Houthis claimed responsibility for attacks on Saudi Arabia's Ras Tanura oil refinery, the Rabigh refinery, and an Aramco facility in Abqaiq. The Saudi-led coalition stated it intercepted a missile aimed at the kingdom's western region. Meanwhile, Iran's Revolutionary Guards reported that three tankers caught fire after hitting sea mines near the Strait of Hormuz. Amid regional security concerns, ExxonMobil and Chevron have cancelled executive travel to an upcoming oil show in the UAE.