U.S. Sept crude ends higher, posts third weekly gain
NEW YORK |
NEW YORK Aug 17 (Reuters) - U.S. front-month September crude futures rose to a three-month peak on Friday, on profit-taking after a recent widening of the Brent/U.S. crude spread and on expectations that any release of strategic oil reserves would back out imports to the United States and pressure Brent.
U.S. September crude rose 41 cents, or 0.43 percent, to settle at $96.01 a barrel, the highest finish since the $96.13 close on May 11. It posted a weekly gain of $3.14, or 3.38 percent, the third consecutive weekly rise. (Reporting by Robert Gibbons; Editing by Dale Hudson)
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