Oil Set for Biggest Weekly Gain Since August Despite Virus Fears - Bloomberg

Oil Set for Biggest Weekly Gain Since August Despite Virus Fears - Bloomberg

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West Texas Intermediate for January rose 0.3% to $71.17 a barrel on the New York Mercantile Exchange at 10:19 a.m. in London. Brent for February settlement gained 0.2% to $74.54 on the ICE Futures Europe exchange after sliding 1.9% on Thursday. The prompt timespread for Brent was 20 cents in backwardation, compared with $1.34 at the start of last month.