Oil prices rose on Friday, with Brent crude touching its highest since late April, after Houthi attacks in Saudi Arabia stoked concern over further disruption to energy supplies from the Middle East where UAE authorities also reported an oil spill.
Brent crude futures gained $4.01, or 3.54 per cent, to $117.18 a barrel by 12:21 ET (16:22 GMT). Brent's session high of $117.38 was the highest since end of April. US West Texas Intermediate crude gained $3.75, or 3.77 per cent, to $103.22.
The Brent benchmark is on track for a 6.7 per cent weekly rise, which would be its third straight weekly gain. WTI is poised to finish 1.8 per cent higher on the week.
Saudi Aramco on Thursday ordered the evacuation of its headquarters in Dhahran on the Persian Gulf near Bahrain, Reuters reported. Fighting intensified between the world's largest crude exporter and Yemen-based Houthis.
An oil spill from a tanker was detected off the UAE coast of Umm Al Quwain, the United Arab Emirates Ministry of Climate Change and Environment said on Friday. It did not say what caused the spill and authorities have not identified the tanker involved.
Shipping sources said on October 9 that the Gem No.2 was struck by an unidentified projectile 13 nautical miles west of Al Jazeera in the UAE.
"The market is concerned about these continued Iranian attacks on tankers that we've seen increase over the last week," said Andrew Lipow, president of Lipow Oil Associates. "While there has been an increase in oil transiting out of the Strait of Hormuz, that could change at any minute."
Clashes between the Houthis and a Saudi-led coalition that backs Yemen's internationally recognised government have raged since the Iran-aligned Houthis pushed towards Bab el-Mandeb last month, a shipping chokepoint at the mouth of the Red Sea.
October has been the worst month for attacks on commercial shipping in the Strait of Hormuz and nearby waterways, according to data compiled by a Washington-based think tank that has tracked maritime security incidents worldwide since 2017.
President Donald Trump said on Friday the US could end the war with Iran quickly, but said perhaps Washington should allow the conflict to gradually wind down.
On Thursday, the head of Libya's National Oil Corp told Reuters that an oil pipeline valve from the Hamada and Tahara oilfields to Zawiya port had been shut, leading to a reduction in production at both fields.
On Friday, ship tracking data showed the first Russian diesel bound for the US since an export agreement between Moscow and Trump was aboard a tanker heading for New York.
Trump announced the deal this month as part of efforts to bring down soaring diesel prices ahead of US midterm elections on November 3.
(Reporting by Nicole Jao, Stephanie Kelly and Sudarshan Varadhan Editing by David Goodman, Susan Fenton and David Gregorio)