Energy Preview: Oil futures on track for fourth consecutive monthly gain in October

Crude oil prices climbed back more than 1% on Friday morning in Asia amid intensifying Middle East geopolitical tensions and major infrastructure attacks. Yemen?s Iran-aligned Houthi group reportedly claimed targeted strikes on major Saudi installations on Thursday, including the massive Ras Tanura and Rabigh refineries, alongside an Aramco facility in Abqaiq. WTI crude oil is up 1.32% at $103.35 while brent is also hovering above $122 per barrel mark. Both benchmarks are tracking toward their fourth consecutive monthly gain, posting their sharpest monthly increases since July.

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