Oil futures finished higher on Friday finding support as the Israeli army’s ground forces expanded their activity in the Gaza Strip, according to CNBC. However, prices still ended lower than a week ago. “Short of a widespread war, geopolitical posturing is falling on deaf ears and traders aren’t giving it much credence,” said Manish Raj, managing director at Velandera Energy Partners. December West Texas Intermediate crude CLZ23 rose $2.33, or 2.8%, to settle at $85.54 a barrel on the New York Mercantile Exchange. Prices for the front-month contract lost 2.9% for the week after settling Thursday at the lowest since Oct. 12, 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.