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Oil Futures Settle Higher, Tally First Weekly Gain in a Month


Saturday, 5 January 2019 03:49 WIB

MinyakWTIOil,


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Oil futures settled higher on Friday, logging their first weekly gain in a month.

Prices have found support from signs of output reductions among major oil producers. Stronger-than-expected U.S. jobs data also contributed to a more upbeat outlook for the economy and the potential for progress toward a trade deal between the U.S. and China eased worries about energy demand.

February West Texas Intermediate oil added 87 cents, or 1.9%, to settle at $47.96 a barrel on the New York Mercantile Exchange. It rose about 5.8% for the week, following three consecutive weeks of losses, according to FactSet data.

Source : Marketwatch


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