Prices of West Texas Intermediate American crude at the beginning of the trading session, Friday, are heading to achieve weekly gains nearing 2%, supported by expectations of a Federal Reserve (the US central bank) interest rate cut and the escalating tensions between the United States and Venezuela and the stalling of peace talks in Moscow.
This will be the second consecutive week of increases.
There was little change in prices at the market opening on Friday, as Brent crude rose six cents or 0.09% to $63.32 per barrel by 01:04 Greenwich Mean Time. West Texas Intermediate crude rose four cents or 0.07% to $59.71 per barrel.
Both crude contracts settled up by about 1% in the preceding trading session.
