Oil futures settled higher on Friday, with U.S. prices recouping much of the losses they suffered on the back of recession concerns over the last two trading sessions. Prices, however, still posted a decline for the week, the second weekly decline in a row. West Texas Intermediate crude for August delivery rose $3.35, or 3.2%, to settle at $107.62 a barrel on the New York Mercantile Exchange. Prices based on the front month edged down by 0.3% for the week after settling Thursday at the lowest the lowest since May 10, according to Dow Jones Market Data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
