Reuters :
Crude oil rose sharply on Friday as Brent and US futures posted their first monthly gains since June, supported by an improving demand outlook and supply outages.
On its way to contract expiration, March New York ultra-low sulphur diesel (ULSD) gained more than 7 percent in volatile trading, and the 36 percent February increase was the biggest percentage monthly rise in 15 years.
Brent crude LCOc1 rose $2.53 to $62.58 a barrel. February’s 18 percent gain was the biggest monthly percentage rise since May 2009.
US crude CLc1 rose $1.59 to settle at $49.76, managing a 3.1 percent February gain.
Crude oil rose sharply on Friday as Brent and US futures posted their first monthly gains since June, supported by an improving demand outlook and supply outages.
On its way to contract expiration, March New York ultra-low sulphur diesel (ULSD) gained more than 7 percent in volatile trading, and the 36 percent February increase was the biggest percentage monthly rise in 15 years.
Brent crude LCOc1 rose $2.53 to $62.58 a barrel. February’s 18 percent gain was the biggest monthly percentage rise since May 2009.
US crude CLc1 rose $1.59 to settle at $49.76, managing a 3.1 percent February gain.
