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23-Feb2019

Crude oil futures end higher Friday

Crude oil futures ended higher on Friday as US equities and other assets found traction against the backdrop of upbeat US-China trade talks. The US and Chinese trade representatives reportedly met for more than nine hours Thursday. Trump met with China's top trade negotiator, Vice Premier Liu He on Friday. Still, deep divisions remain over fundamental issues, with US pressing China to halt what Washington calls illicit technology transfers and improper subsidies for state-owned firms. For the week, West Texas Intermediate (WTI) rose roughly 3%. The international benchmark (Brent crude) gained 1.3% for the week. 

Benchmark crude oil futures for April gained 30 cents or 0.5 percent to settle at $57.26 a barrel on the New York Mercantile Exchange. April Brent crude added 5 cents or less than 0.1 percent to settle at $67.12 a barrel on London's Intercontinental Exchange.


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