Muscat: Oil Prices Gain Amid Renewed Energy Supply Concerns: Oil prices edged higher in trading on Friday as renewed concerns over potential supply disruptions, fueled by escalating regional tensions, supported the market.

According to Qatar News Agency, Brent crude futures rose 19 cents, or 0.25 percent, to USD 76.49 a barrel, while US West Texas Intermediate (WTI) crude futures gained 19 cents, or 0.26 percent, to USD 72.27 a barrel. For the week, Brent is on course to post a gain of about 6 percent, while WTI is set to rise around 5 percent.

Market sentiment has been supported by renewed military tensions between the United States and Iran, which have delayed the full reopening of the Strait of Hormuz, a key shipping route for around 20 percent of global oil and gas supplies.