NEW YORK, June 24 (Xinhua) Oil prices rose on Thursday as traders continued to sift through the latest U.S. fuel inventory data. The West Texas Intermediate
By Sonali Paul MELBOURNE (Reuters) - Oil prices rose on Friday, heading for a fifth straight week of gains, with demand growth seen outstripping supply on bets that OPEC+ producers will be cautious in returning more output to the market from August. U.S. West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $73.38 a barrel at 0216 GMT, headed for a 2.4% gain for the week. Brent crude futures climbed 7 cents, or 0.1%, to $75.63 a barrel, headed for a 2.9% jump for the week. Both benchmark contracts hit their highest since October 2018 on Thursday. All eyes are on the Organization of the Petroleum Exporting Countries, Russia and allies - together called OPEC+ - who are due to meet on July 1 to discuss further easing of their output cuts from August.
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