How Oil Prices Record Improved Gain this Week
Oil prices on Thursday recorded improved gain as it reached a new high of 55.99 dollars.
Oil prices were lower on Friday but on course for weekly gains, the third in a row in the case of Brent as the clean-up after hurricane in the United States gathers pace and the outlook for demand rise.
U.S. West Texas Intermediate crude was above 50 dollars on hitting a four-month high and finished 1.2 per cent higher at 49.89 dollars, the highest since July 31. Brent crude futures were at 55.24 dollars a barrel just as they hit 55.99 dollars on Thursday.