- Font:
- +
- -
NEW YORK — U.S. crude futures rose for a seventh day on Friday, ending with their best weekly performance since December, as a report by the U.N. nuclear watchdog that Iran had stepped up work on nuclear enrichment was seen further inflaming tensions between Tehran and the West.
On the New York Mercantile Exchange, crude for April delivery settled at $109.77 a barrel, gaining $1.94, or 1.8 percent, the highest settlement since May 3, when prices ended at $111.05.
In seven straight days, front month crude futures surged $9.03, or 8.96 percent, their biggest seven-day increase since Oct. 31, when they gained 9.25 percent. For the week, front-month crude rose 6.33 percent, the best weekly percentage gain since the week to Dec. 23, when prices rose 6.58 percent.
Copyright 2012 Thomson Reuters. Click for restrictions.
“ ”