Brent crude oil futures were up US$1.54, or 2.3%, at $68.60 a barrel by 12:58 p.m. ET (1658 GMT) and West Texas Intermediate (WTI) crude was up $1.45, or 2.3%, at $65.27.The two contracts lost about 3% on Thursday.
NEW YORK: Oil prices rose on Friday, reversing some of the previous day's sharp losses as stock markets strengthened and the U.S. dollar slipped, though gains were capped by the coronavirus situation in major oil consumer India.
Colonial Pipeline said late on Thursday it had restarted its entire pipeline system and had begun deliveries in all its markets. The line is the major conduit from Gulf refineries to the U.S. East Coast.
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