Oil prices set to end week over $100 for first time in nearly 4 months

Iran-aligned Houthis seized control of Yemen's port of Mocha on Thursday, posing a further threat to Red Sea traffic, while Gulf traffic remains restricted through the Strait of Hormuz as tanker attacks in the region have intensified in recent days.

Attacks from Yemen on Saudi energy facilities marked an escalation beyond Iran and the Strait of Hormuz, and raised fears of prolonged disruptions in the broader region, analysts say.

U.S. President Donald Trump warned the U.S. may hit Iran's Pickaxe Mountain, located near its heavily damaged Natanz uranium enrichment facility, and said the war would end after the November midterm elections.

"With events spiralling and Iran showing it is willing to stretch this conflict as wide and as long as it can, it is becoming increasingly likely that WTI crude will retest the $119.48 high from early March," IG analyst Tony Sycamore said.

Iran said it had attacked 10 ships near the strait on Wednesday, after the U.S. hit five Iranian oil tankers. Iran's Islamic Revolutionary Guard Corps said it would escalate its response to any further attacks.