COMMODITY
Crude oil futures end higher on Friday
Jun-22-2019

Crude oil futures ended higher on Friday lifted by expectations for economy-boosting central bank policy and continued Middle East tensions that could disrupt oil markets. The fire broke out at the Philadelphia Energy Solutions Refining Complex. Philadelphia Energy Solutions said the oil refining complex is the largest on the U.S. Eastern Seaboard, processing 335,000 barrels of crude oil daily. This has the potential to have a big impact on gasoline. The refinery accounted for 27% of the region’s refining capacity. Meanwhile, the Organization of the Petroleum Exporting Countries and its allies will hold meetings on July 1-2. The session was originally scheduled for June 25-26.

Benchmark crude oil futures for August rose 36 cents or 0.6 percent to settle at $57.43 a barrel on the New York Mercantile Exchange. August Brent rose 75 cents or 1.2 percent to settle at $65.20 a barrel on London's Intercontinental Exchange.

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