: Oil prices mark first weekly gain in 5 weeks; natural-gas futures end the week 14% higher

0
6

Oil futures finished lower on Friday as optimism surrounding a U.S. debt ceiling faded, but prices still notched a gain of more than 2% for the week. Natural-gas futures, meanwhile, ended sharply higher for the week, buoyed by prospects for tighter supplies.  “Crude prices were having a great week as the U.S. economic outlook dramatically improved as lawmakers seem likely to reach a deal on the debt ceiling,” said Edward Moya, senior market analyst at OANDA. However, “debt ceiling optimism quickly disappeared on Friday and that sent oil prices sharply lower.” June West Texas Intermediate crude CLM23, -0.10% fell 31 cents, or 0.4%, to settle at $71.55 a barrel on the New York Mercantile Exchange, up 2.2% for the week, according to Dow Jones Market Data. June natural gas NGM23, +0.19% shed a penny, or 0.3%, to settle at $2.59 per million British thermal units, posting a weekly rise of 14.1%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous article: Debt-ceiling talks are at a ‘pause,’ says McCarthy deputy
Next articleDisney is facing its ‘biggest decision yet’ over the future of ESPN

LEAVE A REPLY

Please enter your comment!
Please enter your name here