Futures Movers: Oil prices on track for second straight weekly rise on Israel-Hamas war worries

Oil futures rose Friday, on track for a second straight weekly gain after the Oct. 7 attack on Israel by Hamas that sparked a war that threatens to spillover across the region, potentially endangering the supply of crude.

Price action

• West Texas Intermediate crude for November delivery
  CL.1,
  +1.09%

  CLX23,
  +1.09%
  rose $1.23, or 1.4%, to $90.66 a barrel on the New York Mercantile Exchange, on track for a 3.3% weekly rise. December WTI
  CLZ23,
  +1.03%,
  the most actively traded contract
  CL00,
  +1.03%,
  gained $1.39, or 1.6%, to $89.76 a barrel.

• December Brent crude
  BRN00,
  +0.99%

  BRNZ23,
  +0.99%,
  the global benchmark, was up $1.25, or 1.4%, at $93.63 a barrel on ICE Futures Europe.

• November gasoline
  RBX23,
  +1.25%
  rose 1.4% to $2.395 a gallon, headed for a 5.7% weekly advance. November heating oil
  HOX23,
  +1.14%
  gained 0.9% to trade at $3.203 a gallon, but was set for a 3.3% weekly fall.

• November natural gas
  NGX23,
  -1.18%
  lost 0.2% to $2.95 per million British thermal units, on track for a nearly 9% weekly slide.

Market drivers

Oil was lifted in electronic trade late Thursday after a U.S. Navy warship has intercepted multiple missiles near Yemen. A Pentagon press secretary told reporters that a Navy destroyer intercepted three missiles and several drones that were launched by Iran-backed Houthi forces in Yemen, but their target was unknown.