Baghdad:Oil prices saw an increase at the start of trading on Friday, driven by concerns over supply shortages. This trend positions the prices for their fourth consecutive monthly gain, marking the largest rise since last July.

According to National Iraqi News Agency, Brent crude futures increased by 86 cents, or 0.75%, reaching $115.74 per barrel. West Texas Intermediate (WTI) crude futures also experienced a rise of 72 cents, or 0.71%, amounting to $102.72.

On a monthly scale, Brent crude is approaching a gain of nearly 14%, while WTI is on track for a 15% increase, with both benchmarks finishing the month above $100 for the first time since the previous April.