Oil Prices Climb as Middle East Conflict Counters Ample Supply Outlook

OIL PRICE - LONDON. Oil prices rose further on Friday and were on track for strong weekly gains as investors weighed the prospect of a wider Middle East conflict disrupting crude flows against a well-supplied global market.

Brent crude futures were up 55 cents, or 0.7%, at $78.17 a barrel, as of 0831 GMT. U.S. West Texas Intermediate crude futures were up 50 cents, also 0.7%, at $74.21 a barrel.