Skip to main content

MoneyWorks4Me

Crude oil futures end higher on Friday

23 Nov 2024 Evaluate

Crude oil futures ended higher on Friday amid rising concerns about Russia - Ukraine conflict following Ukraine and a likely jump in Chinese imports in November. Prices have moved higher this week following Russia stepping up its offensive against Ukraine. After Ukraine launched British and U.S. missiles on Russia, Moscow fired a ballistic missile at Ukraine and warned of a global conflict that could raise the risk of oil supply disruption.

Benchmark crude oil futures for December delivery rose $1.14 or about 1.6 percent to settle at $71.24 a barrel on the New York Mercantile Exchange. Brent crude for January delivery surged $0.94 or about 1.27 percent to settle at $75.17 a barrel on London's Intercontinental Exchange.