Oil prices moved higher on Friday after the United States stepped up pressure on Venezuelan oil exports and carried out airstrikes against Islamic State fighters in northwest Nigeria, following a request from the Nigerian government.
Brent crude rose by 24 cents, or about 0.4%, reaching $62.48 a barrel in early trading. U.S. West Texas Intermediate also gained 23 cents, up 0.4%, to trade at $58.58 a barrel.
The moves reflect growing concerns over supply risks, as geopolitical actions continue to influence the oil market.
