Brent topped $110 for the first time since May after two more tankers were hit off Saudi Arabia, one by an RPG fired from a small boat near Jubail. It rose 3.7% Friday for a second straight weekly gai

What happened: Brent crude topped $110 a barrel to end the week for the first time since May, after two tankers were struck near Jubail, a port city in Saudi Arabia. Key numbers: Brent rose 3.7% Friday, its second consecutive week of gains. Why it matters: Attacks on energy infrastructure from the Gulf to Ukraine have renewed fear in the oil market, with traders ramping up bullish bets ahead of the weekend. The IEA warned the diesel squeeze will persist through at least the first half of next year.

Brent crude topped $110 a barrel to end the week for the first time since May, after two tankers were struck near Jubail, a port city in Saudi Arabia.

Attacks on energy infrastructure from the Gulf to Ukraine have renewed fear in the oil market, with traders ramping up bullish bets ahead of the weekend. The IEA warned the diesel squeeze will persist through at least the first half of next year.