Crude oil prices surged for a second consecutive session on Friday, November 6, as fresh attacks on tankers intensified concerns over global supply disruptions, even as investors evaluated the evolving dynamics of the US-Israel conflict with Iran.
On Thursday, US President Donald Trump said that Iran cannot take any action on its nuclear activities without Washington's approval, adding that he is weighing whether to order further military action against Tehran or accept the current situation.
At around 9.40 am, Brent crude futures ticked up by 1.76 percent, to reach $100.08 per barrel, while West Texas Intermediate (WTI) futures advanced 1.33 percent to trade at $91.72.
This extended gains from the previous session, where Brent jumped $3.67 (3.88 percent) to settle at $98.29 per barrel, and WTI added $2.40 (2.72 percent) to finish at $90.52 per barrel.
The rebound follows a sharp sell-off earlier in the week, when both benchmarks tumbled over 8 percent to hit their lowest points since August 31.