Oil futures rose on Friday but showed an overall decline for the week, according to Bloomberg MarketWatch.
On the New York Mercantile Exchange, July West Texas Intermediate crude tacked on $1.77 or 3.8%, to settle at $47.98 a barrel, ending almost 2.2% lower for the week.
On London’s ICE Futures Exchange, August Brent crude climbed $1.98 or 4.2%, to end at $49.17 a barrel on for a weekly loss of roughly 2.7%.
“We still expect a price retreat for oil into the low 40’s,” said Nico Pantelis, head of research at Secular Investor. “Next week, as the pressure for the Brexit outcome mounts, we suspect oil prices once again will be weak.”
Meanwhile, July natural gas futures were up 4.3 cents, or 1.7%, to settle at $2.623 per million British thermal units on the New York Mercantile Exchange. Overall, prices were up 2.6% for the week.