COMMODITY
Crude oil futures end higher on Friday
Apr-27-2024

Crude oil futures ended higher on Friday on optimism about the outlook for oil demand and concerns about supply. However, the dollar's rise limited oil's gains. The dollar index climbed to 106.19 before paring some gains. Still, at 105.95, the index was up nearly 0.35% from the previous close. Meanwhile, data from the Commerce Department showed the Federal Reserve's preferred measure of inflation, the personal consumption expenditures price index, exceeded expectations on an annual basis in March. The report said the annual rate of consumer price growth accelerated to 2.7% in March from 2.5% in February. Street had expected the pace of growth to tick up to 2.6%.

Benchmark crude oil futures for June delivery rose $0.28 or 0.34% to settle at $83.85 a barrel on the New York Mercantile Exchange. Brent crude for June delivery surged $0.49 or 0.55% to $89.50 per barrel on London's Intercontinental Exchange. 


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