Oil Prices Rise for Second Day, Heading for Weekly Gains

Jordan: Oil prices rose in Asian trading on Friday for a second consecutive session, putting global benchmarks on track for their third weekly gain. Brent crude futures climbed by 44 cents, or 0.7%, to $62.43 a barrel, while US West Texas Intermediate (WTI) crude rose 39 cents, or 0.68%, to $58.15 a barrel. According to Qatar News Agency, the gains follow a sharp rally on Thursday, when both benchmarks jumped by more than 3% after two days of losses. Brent crude is now heading towards a weekly increase of about 2.7%, while WTI is on course for a weekly gain of around 1.4%, according to market data. Analysts say the recent rise reflects improved market sentiment after earlier declines, as traders assess supply-demand balances and broader economic signals.