Oil prices rose on Friday due to production disruptions in the US Gulf of Mexico. Brent crude futures were up 32 cents, or 0.44%, at $72.29 a barrel. U.S. West Texas Intermediate crude futures were up 34 cents, or 0.49%, at $69.31 a barrel.
While Brent crude fell below $70 a barrel on Tuesday for the first time since late 2021, both benchmarks managed to break weekly declines as their gains continued.
On Thursday, nearly 42% of oil production was halted. China’s crude oil imports fell by an average of 3.1% this year from January to August compared to last year.
