Crude oil futures ended higher for a fourth straight session on Friday amid tighter supplies. Recent data showing a drop in U.S. crude inventories and output disruptions in the Gulf of Mexico due to the impact of two hurricanes supported oil prices. The public auction of state crude reserves by China limited oil's advance. According to reports, PetroChina and Hengli Petrochemical bought four cargoes totaling about 4.43 million barrels in the auction. According to the data released by Baker Hughes, the number of active U.S. rigs drilling for oil climbed by 10 to 421 this week. The total active U.S. rig count, including those drilling for natural gas, climbed by 9 to 521.
Benchmark Crude oil futures October delivery rose 68 cents or 0.9 percent to settle at $73.98 barrel on the New York Mercantile Exchange. Brent crude for November delivery gained 84 cents or 1.1 percent to settle at $78.09 a barrel on London's Intercontinental Exchange.