Oil prices rose on Friday, ending the week with strong gains due to issues in transferring energy resources through the Red Sea. The flow of oil in the Red Sea has significantly decreased because of attacks on tankers by Yemeni rebels.

On the London ICE Futures exchange, the price of Brent crude reached $80.04 per barrel, showing an increase of $0.65 (0.82%) compared to the previous closing price. Additionally, contract sales for Brent increased by $0.31 (0.4%) and amounted to $79.39 per barrel.

WTI crude oil prices, which are traded on the New York Mercantile Exchange (NYMEX), also saw a rise of $0.6 (0.81%) to reach $74.49 per barrel. The previous day, these contracts increased by $0.33 (0.4%) and were priced at $73.89 per barrel.

Since the start of the week, Brent has experienced a 4.5% rise, while WTI has seen a 3% increase.

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