The price of oil rose near $107 a barrel Friday, as Iraq's widening insurgency fueled concerns that crude supplies from OPEC's No. 2 producer could be slowed.
After jumping over $2 on Thursday, the benchmark U.S. oil contract for July delivery rose 38 cents to close at $106.91 in New York. For the week, the U.S. benchmark rose 4.1 percent.
Brent crude, a benchmark for international oils used by many U.S. refineries, gained 39 cents to close at $113.41 a barrel in London. Brent rose 4.4 percent this week.
Oil prices have risen to 10-month highs after an al-Qaida-inspired group capturing two key Iraqi cities this week, including Mosul, which is in an area that is a key gateway for the country's crude. The group has vowed to march on Baghdad.