Accra:Oil prices rose on Friday as Hurricane Isaias approached the northern Gulf of Mexico, leading to the suspension of approximately 1.3 million barrels of daily US crude production.
According to Qatar News Agency, Brent crude futures increased by 44 cents to settle at $104.72 per barrel, while US West Texas Intermediate saw a rise of 36 cents, reaching $91.85.
Earlier in the day, prices had dipped following US President Donald Trump's remarks about "productive" talks with Iran. Nonetheless, apprehensions about possible disruptions to oil shipments through the Strait of Hormuz, combined with the hurricane's potential impact on US oil output, bolstered prices. Both benchmarks were on track for weekly gains.