U.S. crude futures rose towards $102 a barrel on Friday, heading for its biggest weekly gain in five weeks on the back of a resurgence of tensions in Ukraine and upbeat U.S. economic data.
Brent is also set for its best week since early April due to geopolitical risk in Ukraine, although it is likely to face some pressure from returning Libyan supply.
U.S. crude for June delivery rose 29 cents to $101.79 a barrel by 0056 GMT after falling 87 cents to settle at $101.50 a barrel. The June contract expires on Tuesday.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.