Oil Updates — Crude up; US drillers add oil and gas rigs for third week in four 


Sun, 2022-11-06 09:34

RIYADH: Oil prices settled up by more than 5 percent on Friday amid uncertainty around future interest rate hikes by the US Federal Reserve, while a looming EU ban on Russian oil and the possibility of China easing some COVID restrictions supported markets. 

Though fears of global recession capped gains, Brent crude futures settled up $3.99 to $98.57 per barrel, a weekly gain of 2.9 percent. 

US West Texas Intermediate crude futures were up $2.96, or 5 percent, at $92.61, a 4.7 percent weekly gain. 

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