Oil prices rose on Friday, driven by growing demand in the world’s biggest consumers, the United States and China, while the U.S. Federal Reserve gave a positive signal on the possibility of rate cuts.
Brent crude futures were up 0.7%, or 58 cents, at $83.54 a barrel by 0700 GMT. U.S. West Texas Intermediate crude futures rose 0.9%, or 69 cents, to $79.62.
Both contracts were down slightly on the week so far, however, with Brent and WTI down 0.1% and 0.5%, respectively.
Wildcat Petroleum plc (LON:WCAT) was incorporated in early 2020, with plans to work and invest in the upstream sector of the petroleum industry – namely exploration, appraisal, development and production of oil and gas.