COMMODITY
Crude oil futures end higher on Friday
Aug-17-2019

Crude oil futures ended higher on Friday amid weakening demand against supply uncertainties linked to the Middle East and OPEC production. Besides, recession fears faded a bit amid hopes global central banks will announce further stimulus to revive economic growth. Worries about energy demand outlook waned a bit with strong US retail sales data (sales rose as much as 0.7% in July, the highest in four months) and dovish comments from ECB's Rehn that signaled a significant easing package in September to support the euro zone economy. Also, China's state planner said it would roll out a plan to boost disposable income this year and in 2020.

Benchmark crude oil futures for September gained 40 cents or 0.7 percent to settle at $54.87 a barrel on the New York Mercantile Exchange. October Brent rose 41 cents or 0.7 percent to settle at $58.64 a barrel on London's Intercontinental Exchange.

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