Oil prices rise for the second straight day as US inventories decline
Oil prices rose for the second straight day on Friday, as data showed a draw in US inventories, but were heading for a weekly loss amid uncertainty over global supplies after an Opec+ impasse. Brent crude oil futures were trading at $76.10 a barrel, at the time of going to press. US West Texas Intermediate futures were up $1.41, or 1.9 per cent, at $74.35.
Prices on both sides of the Atlantic were on track for around a 1 per cent weekly drop, dragged down by the collapse of output talks between the Organization of the Petroleum Exporting Countries (Opec) and allies including Russia, together known as Opec+.
