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Oil finishes with a loss, but U.S. prices mark sharpest weekly rise in a month


Saturday, 16 March 2019 02:23 WIB

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Crude-oil futures finished lower on Friday, with U.S. prices pulling back after four days of consecutive gains that prompted crude to tally its best weekly gain in about a month, amid growing signs of tightening global supplies.

April West Texas Intermediate crude shed 9 cents, or 0.2%, to settle at $58.52 a barrel on the New York Mercantile Exchange, after settling at its highest level since mid-November on Thursday. WTI tallied a weekly gain of about 4.4% based on the most-active contracts, which marked its sharpest weekly rise since the period ended Feb. 15, according to Dow Jones Market Data.

May Brent crude meanwhile, lost 7 cents, or 0.1%, to $67.16 a barrel on ICE Futures Europe, with the contract up 2.2% for the week.

Source : MarketWatch


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