Global oil prices rise for fourth month on Hormuz risk
Brent December futures rose 2.5% to $117.75 a barrel by 10:07pm PKT, with WTI at $104.79, after a Strait of Hormuz tanker attack raised supply concerns.
Brent December crude rose $2.287, or 2.5%, to $117.75 a barrel as of 10:07pm PKT, after touching $118.
The more active January Brent contract gained $3.23 to $114.03; US WTI climbed 2.7% to $104.79.
Prices are at their highest since the end of April and on track for a fourth straight month of gains.
Traders are watching supply risks after a tanker attack in the Strait of Hormuz and possible escalation linked to the Iran war after the US midterm elections.