New Delhi, Oct. 24 -- Oil prices surged on Friday, pushing Brent crude to its highest settlement in nearly six months as Houthi attacks in Saudi Arabia and a reported oil spill in the UAE fuelled concerns over potential supply disruptions in the West Asia.
Brent crude futures climbed $3.55, or 3.14%, to settle at $116.72 a barrel, their highest close since April 29. US West Texas Intermediate crude rose $3.80, or 3.8%, to finish at $103.27 a barrel.
Brent advanced 6% over the week, outpacing WTI's 2.3% gain as traders weighed mounting regional risks to energy supplies.
The attacks in Saudi Arabia fuelled concerns about the security of regional energy infrastructure and the potential impact on oil flows. The UAE also reported an oil spill...