Oil futures stabilized on Friday in higher, driven by supply constraints and fears of a Russian attack on neighboring Ukraine, which pushed prices towards a fourth week of gains, although sources say China prepares to withdraw from crude oil reserves towards the lunar year new.
Brent crude futures closed the trading session in up $ 1.59, or 1.9%, to register at $ 86.06 a barrel, the highest level in two months and a half, in 5.4% rise in the week, according to “Reuters”.
West Texas Intermediate crude oil contracts rose $ 1.70, or 2.1 percent, to $ 83.82 a barrel, up 6.3 percent over the week.
US officials have expressed concern that Russia is preparing to attack Ukraine if diplomacy fails. Russia, which has amassed 100,000 troops on the Ukrainian border, has released images of the movement of its armed forces.
Read More About: Business News