UPDATE: Oil prices end higher to notch their first weekly climb in six weeks
Oil prices ended higher on Friday (http://www.marketwatch.com/story/oil-higher-aims-for-first-weekly-rise-in-6-weeks-2020-02-14) to notch their first weekly rise in six weeks, as a report of oil purchases by Chinese refiners helped to ease worries about a slowdown in oil demand from the spread of COVID-19. Bloomberg News reported (https://www.bloomberg.com/news/articles/2020-02-14/chinese-refiners-go-on-buying-spree-as-oil-too-cheap-to-ignore) a "buying spree" among China's independent oil refiners. March WTI oil rose 63 cents, or 1.2%, to settle at $52.05 barrel on the New York Mercantile Exchange. For the week, prices rose 3.4%, according to FactSet data.
-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 14, 2020 15:09 ET (20:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.