Oil prices advance as supply concerns dominate

NEW YORK – Oil prices continued their upswing on Friday as concerns over supply risks persist on the market.

The West Texas Intermediate (WTI) for June delivery added 1.51 US dollars, or 1.4 percent, to settle at 109.77 dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery increased 1.49 dollars, or 1.3 percent, to close at 112.39 dollars a barrel on the London ICE Futures Exchange. For the week, the WTI and the global crude standard both climbed 4.9 percent, based on the front-month contracts.


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