WASHINGTON (dpa-AFX) - Crude oil futures failed to hold early gains and settled roughly flat on Friday.
Oil prices climbed higher earlier in the session amid supply concerns and hopes of a robust demand during the later part of the year and in 2023.
Uncertainty about the revival of the Iranian nuclear deal and the likely impact on supply contributed as well to oil's uptick.
The resumption of oil exports from Iraq's Basra oil terminal, where a spillage had forced disruptions last night, capped oil's uptick.
West Texas Intermediate Crude futures for October settled at $85.11 a barrel, up $0.01 from the previous close. WTI crude futures shed nearly 2% in the week.
Brent crude futures settled at $91.35 a barrel today, gaining $0.51 or about 0.6%.
A report from Baker Hughes said the number of active U.S. rigs drilling for oil rose by eight to 599 this week, risiing for the first time in three weeks.
The total active U.S. rig count, including those drilling for natural gas, climbed by 4 to 763, the report said.
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