Crude Caps Second Weekly Gain After U.S. Strike Against Syria
- WTI climbs as much as 2.4 percent in intraday trading
- U.S. active oil-rig count rises by 10 to 672: Baker Hughes
Here's How U.S. Missile Strike Might Impact Oil
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Crude capped a second weekly gain after briefly spiking on the first armed strike by President Donald Trump’s administration.
Futures settled at the highest level in a month in both New York and London. Prices reached the highs early Friday as the market digested news of a U.S. cruise-missile strike against Syria. Russia’s deal with OPEC to cut crude supply hasn’t delivered as much as expected, according to Deputy Prime Minister Arkady Dvorkovich. OPEC ministers will gather in Vienna on May 25 to decide whether to extend the accord.