Crude futures soared 4% on Friday as fears of supply halts intensified. Russia has threatened to cut its energy supply to Europe if price caps on its oil and gas are introduced.
Prices were also supported by OPEC+'s decision to cut output in October, as well as a decline in United States oil rigs.
Brent for settlements in November surged 4.09% to sell for $92.79 per barrel at 2:19 pm ET and West Texas Intermediate (WTI) for settlements in October climbed 3.96% to go for $86.91 per barrel at 14:21 pm ET.
