Oil prices rose on Friday, the last trading day in the third quarter, as investors forecast renewed demand from U.S. refineries.
U.S. crude posted a fourth consecutive weekly gain and rose 12 percent in the third quarter, while Brent was heading for a fifth weekly climb and a nearly 10 percent increase for September.
Oil prices have been boosted amid market expectation for renewed demand from U.S. refiners that were resuming operations after shutdowns due to Hurricane Harvey.
Analysts said the market has made a very impressive run and it is time for a pullback in the coming sessions.
U.S. drillers added six oil rigs in the week to Sept. 29, bringing the total count up to 750, energy services firm Baker Hughes said in its weekly report on Friday.
The West Texas Intermediate for November Delivery added 0.11 dollar to settle at 51.67 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery increased 0.13 dollar to close at 57.54 dollars a barrel on the London ICE Futures Exchange.
U.S. crude posted a fourth consecutive weekly gain and rose 12 percent in the third quarter, while Brent was heading for a fifth weekly climb and a nearly 10 percent increase for September.
Oil prices have been boosted amid market expectation for renewed demand from U.S. refiners that were resuming operations after shutdowns due to Hurricane Harvey.
Analysts said the market has made a very impressive run and it is time for a pullback in the coming sessions.
U.S. drillers added six oil rigs in the week to Sept. 29, bringing the total count up to 750, energy services firm Baker Hughes said in its weekly report on Friday.
The West Texas Intermediate for November Delivery added 0.11 dollar to settle at 51.67 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery increased 0.13 dollar to close at 57.54 dollars a barrel on the London ICE Futures Exchange.
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