Open Demo Account
Home / Market Update / Commodities / Oil Rises and Logs 2% Weekly Rise

Oil Rises and Logs 2% Weekly Rise

M. Ali 5 December, 2020 2:02 am Commodities, Market Update

Oil prices rose on Friday, extending its weekly gains, supported by a positive reaction to the OPEC+ move, which is seen as an indicator of market recovery signs.

Brent crude futures for February delivery rose by 54 cents, or 1.1%, to finish at $49.25 per barrel.

For the week, the global benchmark’s futures rose by 2.1%.

Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery leveled up by 62 cents, or 1.4%, to close at $46.26 per barrel, gaining 1.6% for the week.

Tags

Check Also

Bitcoin

Bitcoin Retreats from Record Highs Amid Cooling Optimism Over Trump Presidency and Rate Uncertainty

Bitcoin pulled back from near record highs on Friday as enthusiasm over a Donald Trump …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends