Alforat News

Jump oil prices

The price of crude oil jumped about 3 percent on Friday to offset part of its losses in the previous session, but the growth of US stocks and continuing concerns about the global economy kept the markets under pressure.

Brent crude futures rose 2.26 percent, or $ 1.18, to $ 53.34 a barrel at 0219 GMT, after rising by 3.1 percent earlier. Brent futures fell 4.24 percent, or 2.31 dollars, to settle at $ 52.16 a barrel on Thursday.
West Texas Intermediate crude futures jumped 2.26 percent, or 1.01 dollars, after rising 3.6 percent earlier. US crude was down $ 1.61, or 3.48 percent, at $ 44.61 a barrel.

On Thursday, oil prices fell to their lowest level in more than a year, a day after their biggest daily gain in two years, under pressure from concerns about the global economy and oversupply. Source