Oil rises, heads for fifth monthly gains on Friday

29/04/2022 Argaam

Oil prices advanced on Friday, heading for the fifth monthly gains amid the fallout of Russia’s war in Ukraine and the resurgence of COVID-19 in China.

 

Brent futures for June delivery edged up 0.66% to $108.30 per barrel (bpd).

 

US West Texas Intermediate (WTI) crude for June delivery gained 31 cents, or 0.29%, to $105.67 bpd, heading for a monthly advance of 5.5%.

 

Oil has fluctuated around $100 a barrel throughout April and its fifth monthly gain will be the longest winning streak since January 2018.

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