Brent crude futures rose 76 cents, or 1.7%, to settle at $44.96 a barrel.The more active U.S. West Texas Intermediate (WTI) January crude contract gained 52 cents, or 1.2% to $42.42 a barrel. The WTI contract for December, which expired on Friday, rose 41 cents, or 1%, to settle at $42.15 a barrel. Both benchmarks gained about 5% this week.
NEW YORK: Oil prices rose about 1% higher on Friday and posted a third consecutive weekly rise, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the coronavirus capped gains.
Brent crude futures rose 76 cents, or 1.7%, to settle at $44.96 a barrel.
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