U.S. oil futures settled higher on Friday, but prices based on the front-month contract lost more than 2% for the week, according to Dow Jones Market Data. “There continues to be a battle royale between supply and demand, with OPEC+ cutting production, led by Saudi Arabia, while Chinese economic woes act as a counterweight,” said Matt Smith, lead analyst for the Americas at Kpler. West Texas Intermediate crude for September delivery CLU23, +1.26% climbed by 86 cents, or 1.1%, to settle at $81.25 a barrel on the New York Mercantile Exchange.
This article was originally published by Marketwatch.com. Read the original article here.
