Crude oil futures ended sharply higher on Friday amid worries about geopolitical tensions and potential disruptions to supply. Uncertainty over the presidential election in the U.S. and the impact of the same on crude oil supply from the U.S. also weighed on sentiment. Meanwhile, markets now awaited crucial interest rate decisions from three major central banks, including the Federal Reserve. The UK government's autumn budget was also in focus.
Benchmark crude oil futures for November delivery gained $1.69 or about 2.3 percent to settle at $71.78 a barrel on the New York Mercantile Exchange. Brent crude for December delivery rose $1.67 or about 2.25 percent to settle at $76.05 a barrel on London's Intercontinental Exchange