West Texas Intermediate crude futures for July delivery settled at US$35.49 a barrel, jumping $1.78, or 5.3%. July Brent crude closed at $35.33 a barrel, gaining 4 cents. However, the more active August contract ended at $37.84, rising $1.81, or roughly 5%.
NEW YORK: Oil prices soared on Friday, with U.S. futures closing out May with record monthly gains, on hopes that the U.S.-China trade deal would remain intact and on falling crude production.
West Texas Intermediate crude futures for July delivery settled at US$35.49 a barrel, jumping $1.78, or 5.3%.
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