COMMODITY
Crude oil futures end higher on Friday
Apr-20-2024

Crude oil futures ended higher on Friday following escalation in geopolitical tensions after Israel's retaliatory attack on Iran. Though, gains were limited as reports said the attack did not cause much damage. The International Atomic Energy Agency (IAEA) also confirmed that there has been no damage to Iranian nuclear sites as a result of the Israeli strike confirmed by U.S. officials. A report from Baker Hughes showed oil rig count in the U.S. rose by 5 to 511 in the week. The report said the total oil and gas rig count in the U.S. rose by 2 to 619 in the week to April 19.

Benchmark crude oil futures for May delivery rose $0.41 or 0.50% to settle at $83.14 a barrel on the New York Mercantile Exchange. However, Brent crude for June delivery declined $0.22 or 0.3% to $87.33 per barrel on London's Intercontinental Exchange.

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