Oil settles up ahead of US driving season


Brent crude LCOc1 rose US$2.03, or 1.7%, to settle at $119.43. U.S. West Texas Intermediate (WTI) crude CLc1 rose 98 cents, or 0.9%, to settle at $115.07 a barrel. For the week, Brent rose 6% while WTI gained 1.5%.

Oil prices rose on Friday, closing out the week with gains ahead of the U.S. Memorial Day holiday weekend, the start of peak U.S. demand season, and as European nations negotiate over whether to impose an outright ban on Russian crude oil.

Brent crude LCOc1 rose US$2.03, or 1.7%, to settle at $119.43. U.S. West Texas Intermediate (WTI) crude CLc1 rose 98 cents, or 0.9%, to settle at $115.07 a barrel. For the week, Brent rose 6% while WTI gained 1.5%.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 48
Cxense type: NA
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Business News

Affin raises its reference rates by 25 basis points
Boustead teams up with GEC to establish Turkiye's first Islamic digital bank
Naza TTDI plans six new projects with RM3bil GDV by 2025
SMTrack gets project management consultant job
Bursa, subsidiaries to close for Eid Al-Adha
Perodua expects to exceed 2022 sales target
RHB increases BR, BLR/BFR by 25 basis points
Ringgit lower against US dollar for the third consecutive day
HeiTech Padu bags contracts worth RM43.8mil
Audit: No systemic forced labour at V.S. Industry

Others Also Read