International oil prices climbed on Friday amid renewed concerns over geopolitical risks after reports of sporadic clashes between U.S. and Iran in the Strait of Hormuz.
At the close of trading, the West Texas Intermediate for June delivery gained 61 cents, or 0.64 percent, to settle at 95.42 dollars a barrel on the New York Mercantile Exchange.
Brent crude for July delivery went up 1.23 U.S. dollars, or 1.23 percent, to settle at 101.29 dollars a barrel on the London ICE Futures Exchange.
Oil prices climb on renewed tensions in Strait of Hormuz
The European Commission issued guidances on Friday allowing European airlines to use U.S.-standard jet fuel to ease looming shortages caused by the war in Iran.
The guidelines underscored that consumer protections will not be relaxed, and airlines are prohibited from retroactively charging fuel surcharges after passengers have purchased tickets, with the excuse of rising fuel prices.
The International Energy Agency (IEA) stated on April 16 that Europe's aviation fuel reserves "may only last about six weeks", and many flights could be forced to cancel "soon" if the Middle East situation continues to disrupt oil supplies.
EU allows European airlines to use US jet fuel to ease shortages
