OIL SET FOR SEVENTH STRAIGHT WEEKLY GAIN ON TIGHTER SUPPLY OUTLOOK
NEWS Desk Global
Oil prices rose on Friday and were on track for their longest weekly gaining streak since early 2022, after forecasts for tightening supplies from the International Energy Agency (IEA). Brent crude futures were up 63 cents, or 0.7%, at $87.03 a barrel by 11:58 a.m. EDT [1558 GMT], while U.S. West Texas Intermediate (WTI) crude was up 68 cents, or 0.8%, at $83.50. On a weekly basis, both benchmarks are up about 1%.
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