Oil touches $110 a barrel for first time since May

Brent touched $110 a barrel for the first time since May on Friday on worries that escalating tensions in the Middle East could further tighten supplies, while investors assessed how much diesel Russia could supply ‌to the global market, according to Reuters.

Brent crude futures settled $3.94, or 3.7%, higher at $109.86, the highest since May 19, while US West Texas ‌Intermediate crude futures closed $3.44, or 3.5%, higher at $101.41, the highest since September.

So far this week, Brent has risen 4.9% and WTI 10.4%.

WAM