Oil prices rise, Brent reaches US$116.08 pb

Oil prices rose on Friday, heading for a fourth monthly gain.

Brent crude futures for December advanced $1.20, or 1.04 percent, to $116.08 per barrel (pb) as of 0323 GMT. The more-active January contract gained $1.39 to $112.19.

US ​West Texas Intermediate (WTI) crude futures climbed $1.37, or 1.34 percent, to $103.37.

For the month, Brent was on course to finish nearly 11 percent ​higher, while WTI was heading for a 14 percent jump, according to Reuters.