Oil prices surge past $117 to 5-month high
Dhaka, Oct. 24 -- Crude oil prices have risen for a third consecutive week, driven by fears that repeated attacks by Yemen-based Houthi militants on Saudi Arabia could disrupt energy supplies across West Asia.
Brent crude rose at least 1 percent to above $116.72 a barrel, its highest level since May, according to The New York Times on Saturday.
Prices gained 6.2 percent over the week, marking their biggest weekly increase in two months.
Crude oil last reached a peak of $111.30 a barrel in May.
The latest rise reflects fears that spreading military conflict across West Asia could block oil supplies from reaching international markets, the report said.
Crude prices have climbed nearly 60 percent since the United States and Israel launc...
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