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Oil headed for a 4th straight weekly gain, longest streak since October

Brent crude futures rose $1.16, or 1.4 per cent, to a two-and-a-half month high of $85.63 a barrel at 1125 GM

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Photo: Bloomberg

Agencies

1 min read Last Updated : Jan 15 2022 | 12:01 AM IST

Oil futures rose on Friday on course for a fourth weekly gain boosted by supply constraints and a weaker dollar and despite sources saying China is set to release crude reserves around the Lunar New Year.

Brent crude futures rose $1.16, or 1.4 per cent, to a two-and-a-half month high of $85.63 a barrel at 1125 GMT. US West Texas Intermediate crude gained $1.06, or 1.3 per cent, to $83.18.

Crude prices turned positive as the dollar headed towards what could be its largest weekly fall in more than a year. A weaker dollar makes commodities more affordable

Topics : Crude Oil Oil prcies oil trade

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Oil headed for a 4th straight weekly gain, longest streak since October

Brent crude futures ro­se $1.16, or 1.4 per cent, to a two-and-a-half month high of $85.63 a barrel at 1125 GM

Brent crude futures rose $1.16, or 1.4 per cent, to a two-and-a-half month high of $85.63 a barrel at 1125 GM