Oil prices rose on Friday, heading for their sixth straight weekly gain, as geopolitical tensions continue to heighten supply concerns.
Brent crude was up 91 cents, or 1.02%, to $90.25 a barrel at 9:24 am ET, after hitting $91.04 on Thursday, its highest level since October 2014.
US crude was up 82 cents, or 0.95%, at $87.43 a barrel. WTI also hit a seven-year high of $88.54 earlier in the session.
Both Brent and WTI are on track for what would be their longest period of weekly gains since October.
Oil prices continue to receive support from concerns that the crisis in Ukraine could disrupt energy markets. However, Russian Foreign Minister Sergei Lavrov said on Friday that Moscow does not want war with Ukraine.
Price gains were dampened by a resurgent US dollar, which is on track for its biggest weekly rise in seven months on higher interest rate expectations.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
