SINGAPORE (Reuters): Oil prices rose more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns.
Brent crude futures rose $1.10, or 1.3%, to settle at US$86.24 a barrel, while the US West Texas Intermediate crude gained US$1.27, or 1.6%, to close at US$82.82 a barrel. Both benchmarks hit their highest levels since mid-April on Friday.
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