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Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers.
Brent crude rose $2.16, or 2.4%, to settle at $93.27 a barrel having earlier touched its highest since October 2014 at $93.70.
U.S. West Texas Intermediate crude ended $2.04, or 2.3%, higher at $92.31 a barrel after trading as high as $93.17, its highest since September 2014.
London, Feb 4 Oil prices reached seven-year highs on Friday as geopolitical tensions and a winter storm in the United States fueled concerns over supply disruptions.
Brent crude rose $1.71, or 1.9%, to $92.82 a barrel by 1348 GMT, having earlier touched its highest since October 2014 at $93.05.
U.S. West Texas Intermediate crude rose by $1.84, or 2%, to $92.11 after also scaling a seven-year peak at $92.33.
Both benchmarks were on course for a seventh consecutive weekly gain.
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Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
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by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
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