Oil climbs as Red Sea tension persists, but Angola’s OPEC exit caps gains
Oil prices rose in early trade on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices.
Brent crude futures were up 23 cents, or 0.3%, to $79.62 a barrel by 0121 GMT, while U.S. West Texas Intermediate crude futures were up 22 cents, also 0.3%, at $74.11 a barrel.
