Oil futures finish higher, with U.S. prices up nearly 4% for the week
Oil futures rose on Friday, with U.S. benchmark crude prices posting a weekly gain of almost 4%. "Another round of strong earnings and economic data suggest the economy can still handle the current surge in energy prices," said Edward Moya, senior market analyst at Oanda. "The oil market deficit will only get wider as global stockpiles remain at low levels, unexpected demand comes from colder weather, and on surging jet fuel demand as the U.S. opens up international travel." West Texas Intermediate crude for November delivery rose 97 cents, or 1.2%, to settle at $82.28 a barrel on the New York Mercantile Exchange, with front-month prices up about 3.6% for the week, FactSet data show.
-Myra P. Saefong
(END) Dow Jones Newswires
October 15, 2021 15:00 ET (19:00 GMT)
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