Oil futures end higher, up a 4th straight week


Oil futures ended higher on Friday, with U.S prices posting a gain for a fourth week in a row. Prices shook off much of the losses they saw Thursday on the back of strength in the dollar, which followed the Federal Reserve’s suggestion that it may raise interest rates sooner than it previously expected. Traders continued to get a boost from expectations for stronger energy demand and eyed prospects for an Iran nuclear deal that would likely lead to more oil on the global market. Most appeared unconvinced that an agreement can be reached before the inauguration of a new Iran president in August. West Texas Intermediate oil for July delivery
rose 60 cents, or 0.8%, to settle at $71.64 a barrel on the New York Mercantile Exchange. Prices based on the front-month contract tacked on 1% for the week.


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