Oil prices are on course early Friday for their strongest weekly performance since April as renewed conflict between the United States and Iran disrupted the recovery of shipping through the Strait of Hormuz and pushed crude prices to their highest levels in more than a month.
In Asian trading, both major benchmarks extended gains for a fourth consecutive session after the US launched another round of military strikes on Iranian targets overnight.
International benchmark Brent crude rose 1 percent to $85.06 per barrel, while US benchmark West Texas Intermediate (WTI) climbed 1.2 percent to $79.88 per barrel.
The gains put crude prices on track for a weekly increase of about 12 per cent, marking the largest one-week advance since April and reversing much of the decline recorded in recent weeks.
Earlier in the week, Brent crude briefly traded above $86 per barrel as tensions between Washington and Tehran intensified following attacks on commercial shipping in the Strait of Hormuz.
