Oil settles up as investors weigh Mideast risk, US election

Brent crude futures settled up US$1.67, or 2.25%, at US$76.05 a barrel. US West Texas Intermediate crude settled up US$1.59, or 2.27%, to US$71.78.

HOUSTON: Oil prices settled higher on Friday and gained 4% on the week, with investors taking stock of the ongoing conflict in the Middle East as well as the US election next month.

Brent crude futures settled up US$1.67, or 2.25%, at US$76.05 a barrel. US West Texas Intermediate crude settled up US$1.59, or 2.27%, to US$71.78.