LONDON: Oil prices rose to the fourth consecutive weekly gain on Friday, steadying at three-month highs after new data showed U.S. crude inventories fell far more than expected, while upbeat economic data and optimism over a U.S.-China trade deal fueled a year-end stock market rally.
Brent crude LCOc1 rose 24 cents to settle at $68.16 a barrel, the highest since mid-September. The international benchmark has climbed nearly 27% since the end of 2018.
West Texas Intermediate CLc1 rose 4 cents to settle at $61.72 a barrel, another three-month high. The U.S. benchmark has risen 36% so far this year.
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BY ARSALAN