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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Oil Prices Settle Up 2%, Post Weekly Loss on Stockpile Releases

Russia European Union IEA
A worker at an oil field owned by Bashneft, Bashkortostan, Russia, January 28, 2015. REUTERS/Sergei Karpukhin/File Photo

Oil prices rose 2% on Friday but notched their second straight weekly decline after countries announced plans to release crude from their strategic stocks.

Brent crude futures settled up $2.20, or 2.19%, at $102.78 a barrel. US West Texas Intermediate (WTI) crude futures rose $2.23 to $98.26.

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