U.S. oil futures log a 9th straight weekly climb
Oil futures finished higher on Friday, with U.S. prices up tallying a ninth consecutive weekly climb --- the longest streak of weekly gains for front-month crude on record, based on data going back to April 1983, according to Dow Jones Market Data. Analysts attributed oil's price gains to easing travel restrictions, as well as a slow recovery in U.S. crude output and expectations for higher energy demand for the upcoming holiday season. West Texas Intermediate crude for December delivery rose $1.26, or 1.5%, to settle at $83.76 a barrel on the New York Mercantile Exchange. For the week, prices based on the front month rose 2.5%.
-Myra P. Saefong
(END) Dow Jones Newswires
October 22, 2021 15:06 ET (19:06 GMT)
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