Oil heads for another weekly gain on demand hopes and shut-ins - Reuters:
Oil prices rose on Friday and were on course for a second consecutive week of gains as more countries moved ahead with plans to relax economic and social lockdowns put in place to halt the coronavirus pandemic and as more output was shut in.
Brent crude was up by 52 cents, or 1.8%, at $29.98 a barrel by 0920 GMT, having fallen nearly 1% on Thursday.
U.S. West Texas Intermediate (WTI) crude gained 78 cents, or 3.3%, to $24.33 after a decline of nearly 2% in the previous session.
Both contracts are heading for a second week of gains after the lows of April, when U.S. oil crashed below zero, with Brent advancing more than 13% this week and WTI up 23%.
No comments:
Post a Comment