Oil hit ten-month highs on supply tightness and Chinese demand optimism.
Fuelling the increases were also better-than-expected industrial output and retail sales data in China.
International benchmarks for crude oil ended the trading session on Friday, 15 September 2023 with additional gains, stimulated by the tightening supply outlook as Saudi Arabia and Russia curbed outputs ahead of the winter season. Fuelling the increases were also better-than-expected industrial output and retail sales data in China.
Brent added 23 cents to close at $93.93/barrel.
WTI gained 61 cents to close at $90.77/barrel.
Both contracts traded at ten-month highs and gained about 4% on a weekly basis.