Oil prices moved into the final trading day of the week extending a rally.
U.S. West Texas Intermediate crude futures climbed $1.63, or 1.6%, to $104.63 a barrel, adding to an 8% jump on Thursday.
Brent crude futures jumped $1.45, or 1.3%, to $108.16 a barrel, after surging nearly 9% on Thursday in the largest percentage gain since mid-2020. Even with the rebound, both benchmark prices were set to end the week down about 4%. Prices have dropped from 14-year highs hit nearly two weeks ago. Prices have been on a rollercoaster ride due to the supply crunch from sanctions on Russia, stuttering nuclear talks with Iran, dwindling oil stockpiles and worries about a surge of COVID-19 cases in China, according to Reuters.
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