US crude prices jumped 7 per cent on Friday to their highest since March, on strengthening fuel demand as countries around the world eased the travel restrictions they had imposed to curb the spread of the coronavirus. US crude gained 19.7 per cent in the week and Brent crude rose 5.2 per cent after a week of bullish news. Both contracts gained for the third consecutive week.
West Texas Intermediate (WTI) oil settled up $1.87, or 6.8 per cent at $29.43 a barrel, just off the session peak of $29.92, its highest since mid-March. WTI soared 9 per cent in the previous session. Brent crude settled up $1.37, or 4.4 per cent a barrel at $32.50. Brent rose nearly 7 per cent on Thursday.
