KONTAN.CO.ID - LONDON. Oil prices rose for a second session on Friday, buoyed by better than expected U.S. economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. Brent futures gained $1.17, or 1.34%, to trade at $88.64 a barrel by 1332 GMT. U.S. crude was up $1.17, or 1.44%, at $82.18 and on track for its highest daily jump in percentage terms for two weeks. Both benchmarks advanced by more than 1% on Thursday and are heading for a third straight week of gains.
Oil Prices Firm on Upbeat U.S. Economic Data
KONTAN.CO.ID - LONDON. Oil prices rose for a second session on Friday, buoyed by better than expected U.S. economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. Brent futures gained $1.17, or 1.34%, to trade at $88.64 a barrel by 1332 GMT. U.S. crude was up $1.17, or 1.44%, at $82.18 and on track for its highest daily jump in percentage terms for two weeks. Both benchmarks advanced by more than 1% on Thursday and are heading for a third straight week of gains.