WTI, Brent Crude and Natural Gas Post Gains on Friday

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Oil futures rallied on Friday after data revealed a favorable drop in crude oil inventories coupled with a rise in active U.S. oil rigs for the week, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, August West Texas Intermediate crude tacked on 66 cents, or 1.4%, to end trading at $48.99 a barrel, higher by nearly 2.8% for the week.

On London’s ICE Futures Exchange, September Brent crude, the global benchmark, rose 64 cents, or 1.3%, to settled at $50.35 a barrel, increasing almost 4% for the week.

On the New York Mercantile Exchange, August natural gas added 6.3 cents, or 2.2%, to settle at $2.987 per million British thermal units, marking its highest settlement since May 2015.

 

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