Oil rises on fears Hurricane Harvey will hit U.S. production

Oil prices rose on Friday as the U.S. petroleum industry prepared for the arrival on the coast of Texas of Hurricane Harvey, which threatens to disrupt onshore and offshore production.

The tropical storm has rapidly intensified since Thursday, spinning into potentially the biggest hurricane to hit the mainland United States in 12 years and taking aim at the heart of the nation's oil refining industry between Houston and Corpus Christi.

U.S. West Texas Intermediate (WTI) crude futures were at $47.74 a barrel at 0219 GMT, up 31 cents, or 0.6 %, from their last settlement.

Brent crude futures, the international benchmark for oil prices, were at $52.40 per barrel, up 36 cents, or 0.7 %, from their last close.

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