Global oil prices moved up after reports that France seized a Russian tanker carrying oil through the Mediterranean Sea. The incident added new tension to already fragile energy markets.

Prices were also supported by fresh warnings from US President Donald Trump, who cautioned Iran against disrupting global crude supplies. Traders reacted quickly to the strong language, fearing possible supply shocks.

Concerns grew further due to production outages in Kazakhstan, which added pressure on global supply and boosted investor demand for oil futures.

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Brent crude futures for March delivery rose by $1.68, or 2.6 percent, to reach $65.74 per barrel by 1910 PKT. US West Texas Intermediate crude gained $1.63, or 2.8 percent, trading at $60.99 per barrel.

Both major oil benchmarks were heading for weekly gains of more than 2 percent. At the time of reporting, Brent was up 2.54 percent at $65.69 per barrel, while WTI climbed 2.56 percent to $60.88 per barrel.