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Oil Prices Settle Higher, Score Fourth Weekly Rise


Saturday, 13 January 2018 04:02 WIB

Minyak WTIOil,Crude Oil


c_740_198_16777215_00_images_assets_OIL2_Oil-Derrick.jpg

Oil prices settled higher Friday for a fifth straight session, as declines in U.S. crude supplies continued to boost prices to their highest in more than three years.

Prices also posted a gain for the week, their fourth such rise in a row. News that the Trump administration extended sanctions relief for Iran, as expected, and data showing the first weekly rise in active U.S. oil-drilling rigs failed to squash bullish sentiment. February West Texas Intermediate crude rose 50 cents, or 0.8%, to settle at $64.30 a barrel on the New York Mercantile Exchange. That was the highest finish since Dec. 5, 2014 according to FactSet data. It rose about 4.7% for the week.

Source : Marketwatch


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