Brent futures held above $109 a barrel on Friday as fresh tensions over Ukraine kept them on course for their biggest weekly rise since mid-April, but returning Libyan supply capped gains.
U.S. crude futures were also heading for their best week in five, bolstered by data indicating the U.S. economy could be firming.
U.S. Secretary of State John Kerry warned Russia it faced broader economic and industrial sanctions from the United States and Europe if it meddled in Ukraine’s presidential elections on May 25.
Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at firstname.lastname@example.org. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.