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Oil hits USD116 mark as ME conflict rages on
NEW YORK: Oil prices settled more than USD3 higher on Friday, their highest in nearly six months after Houthi attacks in Saudi Arabia stoked concerns over further disruption to energy supplies from the Middle East, where UAE authorities also reported an oil spill. Brent crude futures settled at USD116.72 a barrel, up USD3.55 or 3.14 percent, their highest since April 29. US West Texas Intermediate crude closed at USD103.27 a barrel, up USD3.80 or 3.8 percent. Brent finished the week up 6 percent and WTI ended 2.3 percent higher. “Fears of supply disruptions drove the advance after Houthi carri...
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