Oil Logs Seventh Weekly Gains in Row

Oil prices closed higher on Friday, reaching their best finishing level since February.

Brent crude futures for February delivery rose by 76 cents, or 1.5%, to settle at $52.26 per barrel.

This is the highest closing level for the global benchmark most active futures since February 26.

For the week, Brent futures gained 4.6% in its seventh consecutive weekly rise.

Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery added 74 cents, or 1.5%, to finish at $49.10 per barrel, rising by 5.4% for the week.