Oil prices cross $108 in global market

On Friday (September 11), the price of international benchmark Brent crude rose by $1.05 per barrel, or 1 percent, to reach $108.68. At the same time, U.S. West Texas Intermediate (WTI) crude was selling at $103.45 per barrel, up 95 cents or 1 percent.

According to Reuters data, this is the first time since mid-May that Brent and WTI—both types of oil—are above $100 per barrel late in the week.

Earlier, in Thursday's trading, prices of both types of crude oil rose by more than 6 percent. The upward trend in oil prices in the international market has been created by rising security risks in Middle Eastern waterways and uncertainty over supply.