© Khunaspix Dreamstime.

MARKETWATCH reports: “Oil futures ended higher Friday, feeding a gain for the week as U.S. sanctions on Venezuela’s state-owned oil firm raised the risk of tighter crude supplies and a recent survey showed a considerable monthly decline in OPEC production. Prices extended their gain after data released Friday showed a weekly decline in the number of active U.S. oil rigs, implying a potential slowdown in domestic production activity. The price move followed a fall in Thursday’s session, but U.S. and global benchmark futures managed to finish January with their strongest monthly percentage rise since April 2016.”

Comment on this article

You must be logged in to post a comment.