Crude oil on the rise on Friday

Oil prices were on their way back up again on Friday but opinion was mixed as to whether the recovery will last.

Brent crude added a modest 0.1% to US$48.2 a barrel while US West Texas Intermediate gained almost 1% to US$46.5 a barrel.

Rating agency Standard & Poor's said in a report that hydrocarbon prices will most likely remain low throughout 2016.

S&P said that would leave US oil and gas exploration and production companies facing ongoing cash flow deficits and budget gaps.

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