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Crude oil prices are extending recent gains on Friday with traders continuing to weigh supply concerns due to the ongoing tensions in the Middle East.

After settling at a two-week high on Thursday, West Texas Intermediate Crude oil futures for June are up again, gaining $0.50, or 0.80%, at $63.37 a barrel.

WTI futures rose to a high of $63.64 earlier in the session.

Meanwhile, Brent crude futures for July are up $0.18, or 0.25%, at $72.86 a barrel, off the day's high of $73.23.

Crude oil prices have been rising in recent sessions due to concerns about possible supply disruptions after Saudi's oil infrastructure was sabotaged last weekend.

On Thursday, a Saudi-led coalition reportedly said it launched airstrikes on Iran backed Houthi rebels, in retaliation for the attacks on Saudi's oil infrastructure.

A report released by Energy Information Administration on Thursday said supply of natural gas

Meanwhile, markets await the outcome of the upcoming meeting of the OPEC/non-OPEC Joint Ministerial Monitoring Committee, scheduled to take place in Jeddah this Sunday.