West Texas Intermediate (WTI) oil settled up US$1.87, or 6.8% at $29.43 a barrel, just off the session peak of $29.92, its highest since mid-March. WTI soared 9% in the previous session. Brent crude settled up $1.37, or 4.4% a barrel at $32.50. Brent rose nearly 7% on Thursday.
NEW YORK: U.S. crude prices jumped 7% on Friday to their highest since March, on strengthening fuel demand as countries around the world eased travel restrictions they had imposed to curb the spread of the coronavirus.
U.S. crude gained 19.7% in the week and Brent crude rose 5.2% after a week of bullish news. Both contracts gained for the third consecutive week.
