Oil prices edge higher on geopolitical developments
Oil prices posted modest gains after a previous dip, with both Brent and WTI futures on track for weekly advances.
Key Takeaways
AIOil prices rose slightly on Friday, supported by geopolitical developments. Brent crude futures gained nine cents, or 0.1 percent, to reach $87.16 a barrel.
Meanwhile, US West Texas Intermediate (WTI) crude futures increased by four cents to $81.29 a barrel.
Both benchmarks had dropped by more than 2 percent in the previous session, giving up part of the gains made during a six-session rally for Brent and five sessions for WTI.
Despite recent market volatility, oil prices remain on course for a weekly gain of nearly 4 percent.