At the close of the week, oil traded just below multi-year highs on account of Germany’s chancellor and the U.S. Federal Reserve chairman utterances that demand disruptions from COVID-19 may not be over.
Brent crude futures rose 76 cents, to $85.36 a barrel after Thursday’s three-year high of $86.10.
The benchmark is set for its seventh weekly gain.
U.S. West Texas Intermediate crude futures gained $1.13, to reach $83.63 a barrel, not far off a seven-year high hit this week.
The grade is heading for its ninth weekly rise.
Readers Bureau, Contributor
Edited by Jesus Chan
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