Crude oil futures ended higher on Friday as additional stimulus measures announced by the Chinese government helped ease concerns about the outlook for demand, and offset worries about prospects of excess supply in the market from December. The Chinese government announced further steps to revive the nation's economy, with the central bank cutting interest rates and adding to stimulus measures already announced this week. Besides, oil prices moved higher, recovering some of the previous session's losses, as several producers in Gulf of Mexico had to cut output due to Hurricane Helene.
Benchmark crude oil futures for November delivery gained $0.51 or 0.75 percent to settle at $68.18 a barrel on the New York Mercantile Exchange. Brent crude for November delivery rose by $0.38 or 0.53 percent to settle at $71.98 a barrel on London's Intercontinental Exchange.