Brent crude hits $116.72, highest since April, on Middle East supply fears

Brent crude oil futures for December delivery rose 3.14% to close at $116.72 per barrel on the London futures market, reaching its highest level since April. The increase was driven by supply concerns amid a worsening situation in the Middle East. The North Sea crude, a European benchmark, settled $3.55 above Thursday's closing price of $113.17 on the Intercontinental Exchange, having traded as high as $117.45 during the session. The persistent rise reflects ongoing worries about potential disruptions to Persian Gulf oil supplies. The price surge follows the Israeli-American attack on Iran that opened a state of war in late February, which has heightened fears of supply interruptions from the region.