Colder weather sent crude oil prices higher on Friday

Crude oil prices rose about 1% in Friday’s trading as both benchmarks recorded gains for the day.

Analysts credited colder weather, both here and in Europe for sending crude oil prices higher. The economic stimulus announced earlier in the week in China also had a continuing impact.

West Texas Intermediate crude rose 83 cents or 1.13% to close at $73.96 a barrel on the New York Mercantile Exchange.

Brent crude gained 68 cents or  0.90% to reach $76.61 per barrel.

Natural gas took a 31-cent tumble which translated into a fall of 8.36% to settle at $3.35 per MMbtu on Friday.

Oklahoma energy stocks finished the week with recorded gains. Mammoth Energy rose nearly 5% while Matrix Services had a strong 4% bump.