Brent crude futures rose 91 cents, or 1.2%, to settle at US$74.17 per barrel. US West Texas Intermediate crude futures rose 98 cents, or 1.4%, to US$70.60 per barrel.
NEW YORK: Oil prices settled more than 1% higher on Friday and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from US crude inventories last week.
Brent crude futures rose 91 cents, or 1.2%, to settle at US$74.17 per barrel. US West Texas Intermediate crude futures rose 98 cents, or 1.4%, to US$70.60 per barrel.
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