Oil prices rose on Friday as involuntary supply cuts from Venezuela, Libya and I...
LONDON - Oil prices rose on Friday as involuntary supply cuts from Venezuela, Libya and Iran supported perceptions of a tightening market, already underpinned by a production reduction deal from OPEC and its allies.
U.S. West Texas Intermediate crude futures were at $64.19 per barrel, up 61 cents from their previous settlement, set for a weekly rise of 1.7 percent, their sixth straight week of gains. The head of Libya’s National Oil Corporation warned on Friday that renewed fighting could wipe out crude production in the country.
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