Oil Futures Settle at Two-Year Highs

Oil prices rose on Friday and ended the week at to their highest levels in about two years, supported by expectations for demand recovery during the second half of the year.

Brent crude futures for August delivery rose by 58 cents, or 0.8%, to finish at $71.89 per barrel, rising by 4.6% on a weekly basis.

Meanwhile, the West Texas Intermediate crude futures for July delivery finished higher by 81 cents, or 1.2%, at $69.62 per barrel.

For the week, the U.S. crude benchmark most active contract gained 5%.