Oil Registers Third Straight Weekly Rise

Oil prices finished higher on Friday, registering their third consecutive weekly rise, at fresh two-year high levels.

Expectations for demand recovery continue to provide support for crude prices as the global economy shrugs off the effects of the coronavirus pandemic.

Brent crude futures for August delivery rose by 17 cents, or 0.2%, to $72.69 per barrel, its best level since April 2019.

For the week, the global benchmark crude most active contracts registered a 1.1% increase.

The West Texas Intermediate (WTI) crude futures for July delivery added 62 cents, or 0.9%, to close at $70.91 per barrel, or its highest closing level since October 2018, registering a weekly rise of 1.9%.