Oil prices settled higher on Friday, contributing to a more than 2% weekly gain for U.S. benchmark crude futures. Crude prices continued to trade on “supply-side drivers,” said Edward Moya, senior market analyst at OANDA, with OPEC+ to “keep this market tight going into the winter.” Oil still looks like it “wants to keep this rally going and it could if further evidence emerges that China is stabilizing,” he said. October West Texas Intermediate crude CLV23, +0.41% rose 64 cents, or 0.7%, to settle at $87.57 a barrel on the New York Mercantile Exchange, erasing nearly all of the previous session’s 0.8% loss to finish the week 2.3% higher, according to Dow Jones Market Data.
This article was originally published by Marketwatch.com. Read the original article here.
