(MENAFN- ProactiveInvestors)
West Texas Intermediate oil futures turned higher Friday as traders mulled the outlook for crude supplies following a report that showed the first inventory decline since January.
WTI for June delivery added 0.8% to US$59.46 a barrel on the New York Mercantile Exchange. Prices tracking the most-active contracts were set for a gain of 0.5% on the week.
Brent crude for June delivery on London’s ICE Futures exchange lost 0.2% to US$65.39 a barrel trading about 1.6% lower for the week.
Last week the U.S. government data showed a weekly decline of 3.9 million barrels in crude inventories and protesters blocked an oil port in Libya.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.