Home Energy Oil Prices End the Week up 3%

Oil Prices End the Week up 3%

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oil pricesOil futures finished higher on Friday as a rise in U.S. consumer sentiment to a nine-month high buoyed the outlook for energy demand, and after the International Energy Agency reported much lower OPEC production in March and warned of the prospects for further output declines. Crude oil for May delivery CLK4 -0.03%  tacked on 34 cents, or 0.3%, to settle at $103.74 a barrel on the New York Mercantile Exchange after tapping a high at $104.44. For the week, prices scored a 2.6% gain, based on the most-active contracts.

On the ICE Futures exchange, May Brent UK:LCOK4 -0.34%  shed 13 cents, or 0.1%, to end at $107.33 a barrel, with the contract still closing roughly 0.6% higher on the week.