Money

Oil heads for biggest weekly gain since July

- Post Report, LONDON

Apr 14, 2018-

Oil prices edged higher on Friday, heading for their largest weekly gain since July after US President Trump’s comments about possible military action in Syria and reports of dwindling global oil stocks.

Brent crude rose by 44 cents to $72.46 a barrel at 0821 GMT, up about 8 percent on the week.

NYMEX crude for May delivery gained 45 cents to $67.52, putting the contract on track for a weekly jump of nearly 9 percent.

Both benchmarks hit their highest since late 2014 on Wednesday after Trump warned that missiles “will be coming” in response to a suspected gas attack in Syria and after Saudi Arabia said it intercepted missiles over Riyadh. (REUTERS)

Published: 14-04-2018 08:51

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment