CRUDE WRAP: WTI (X6) FUTURES SETTLE USD 0.36 HIGHER AT USD 91.85/BBL; BRENT (Z6) SETTLES USD 0.44 HIGHER AT USD 104.72/BBL

The crude complex ended the final trading session of the week firmer, as participants await any further weekend updates. As a reminder, and one of the key takeaways from this week, was that Trump said on Thursday they are having productive discussions with Iran, and will not be attacking Iran at any time before the midterms. Nonetheless, and back to Friday, benchmarks saw gains amid two separate reports: 1) IRGC warned vessels violating restrictions will be pursued and punished beyond the Strait of Hormuz; 2) Military sources stated Houthi forces have planted large quantities of mines in the Bab al-Mandab area. On the day, WTI and Brent hit lows of USD 90.01/bbl and USD 102.33/bbl, respectively, in the European morning and continued to be weighed on by the aforementioned Trump remarks, but later pared on a deluge of Middle East updates. In addition, IRGC claimed to have struck the LPG carrier NV Sunshine after it attempted to transit an unauthorised route south of the Strait of Hormuz, and UKMTO reported another vessel struck by a projectile near the UAE. On the supply footing, Gulf of Mexico producers had shut around 63% of oil production ahead of Hurricane Isaias, removing nearly 1.3mln BPD. For the record, the weekly Baker Hughes rig count saw oil up 6 at 462, natgas down 1 at 132, leaving the total up 5 at 603.