US benchmark oil contract rises 5pc

Author: Monitoring Desk

The main US oil contract, WTI, jumped more than 5pc in trading on Friday as supply concerns outweighed recession worries, and as traders began to look ahead to a meeting next week of OPEC+ nations on production. Around 1430 GMT, WTI was up 5.1pc to $101.29, while the main international contract, Brent, climbed 3.1pc to $110.43.

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