World

Oil prices hit 6-month high over fears of escalating fighting in the Middle East

Oil prices climbed to a 6-month high on Friday as traders priced the odds of escalating fighting in the Middle East. Attacks near the Red Sea also stoked worries of further constraints on oil supplies from the region. Brent crude ( BZ=F ) futures for December delivery settled at $116.72 per barrel. The international benchmark posted its third consecutive week of gains. Meanwhile, West Texas Intermediate crude ( CL=F ) closed just above $103 a barrel. President Trump telegraphed an escalation in