Oil prices rise on Friday, on track for biggest weekly gain since June

18/09/2020 Argaam

Oil prices rose on Friday, heading for its biggest weekly gain since June backed by lower output in the Gulf of Mexico, due to Hurricane Sally and a higher-than-expected decline in the US crude stockpiles.

 

Brent crude oil for November delivery added 0.6% at $43.56 a barrel at 08:50 am Saudi local time.

 

US West Texas Intermediate crude for October delivery edged up 0.5% to $41.17 a barrel.

 

Baker Hughes will issue the weekly rig count data later on today.

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