SSOF .0024 With all the latest cryptocurrency and cannabis mania going on, most forgot about good ol' oil and gas....
Oil prices settle higher, score fourth weekly rise
Today 2:42 PM ET (MarketWatch)
Oil prices settled higher Friday (http://www.marketwatch.com/story/oil-prices-slip-from-3-year-high-as-traders-wait-for-trump-move-on-iran-2018-01-12
) for a fifth straight session, as declines in U.S. crude supplies continued to boost prices to their highest in more than three years. Prices also posted a gain for the week, their fourth such rise in a row. News that the Trump administration extended sanctions relief (http://www.marketwatch.com/story/trump-extends-sanctions-relief-for-iran-2018-01-12
) for Iran, as expected, and data showing the first weekly rise in active U.S. oil-drilling rigs (http://www.marketwatch.com/story/baker-hughes-reports-first-weekly-rise-in-us-oil-rig-count-in-5-weeks-2018-01-12
) failed to squash bullish sentiment. February West Texas Intermediate crude rose 50 cents, or 0.8%, to settle at $64.30 a barrel on the New York Mercantile Exchange. That was the highest finish since Dec. 5, 2014 according to FactSet data. It rose about 4.7% for the week.
-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 12, 2018 14:42 ET (19:42 GMT)
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