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00:02Oil prices rose as markets weighed the ongoing Middle East conflict against efforts to secure
00:07shipping through the Strait of Hormuz and boost supply, according to Reuters.
00:11Brent crude increased $1.67 to $110.32 per barrel, while WTI rose $0.33 to $96.47.
00:22Brent was on track for a nearly 7% weekly gain, while WTI faced a roughly 2% weekly decline.
00:30Israel and Iran exchanged attacks, including a strike on a Kuwait refinery.
00:34European nations and Japan signaled readiness to support safe passage through Hormuz.
00:39Brent crude surged above $119 on Thursday after Iran knocked out 17% of Qatar's LNG capacity,
00:47with damage expected to take up to five years to repair.
00:50Analysts said damage to production and logistics continues to support prices.
00:55For all things money, visit Benzinga.com.
