Brent futures rose US$1.95, or 2.6%, to settle at US$78.47 a barrel, while US West Texas Intermediate crude (WTI) rose US$2.06, or 2.9%, to settle at US$73.86.
NEW YORK: Oil prices climbed about 3% to a nine-week high on Friday as supply concerns and technical buying outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil.
Brent futures rose US$1.95, or 2.6%, to settle at US$78.47 a barrel, while US West Texas Intermediate crude (WTI) rose US$2.06, or 2.9%, to settle at US$73.86.
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