Oil prices rose for the second day in a row on Friday and are heading for weekly gains for the sixth time after Saudi Arabia and Russia pledged to cut production until the end of next month. Brent crude futures for October delivery rose 30 cents, 0.4 per cent, to $85.44 a barrel, according to CNBC. West Texas Intermediate crude futures for September delivery rose 36 cents, 0.4 per cent, to $81.90 a barrel. On Thursday, Brent recovered its losses, which amounted to 2 per cent in the Wednesday session, which makes futures contracts on their way to achieving a weekly increase of 0.4 per cent WTI is expected to end the week up 1.4 per cent after the decline in US crude oil inventories by the largest amount ever on the day.
Source: Jordan News Agency