Oil prices rose on Friday, reversing some of the previous day’s sharp losses as stock markets strengthened and the U.S. dollar slipped, though gains were capped by the coronavirus situation in major oil consumer India.
Colonial Pipeline said late on Thursday it had restarted its entire pipeline system and had begun deliveries in all its markets. The line is the major conduit from Gulf refineries to the U.S. East Coast.
Gas station outages in Washington, D.C., climbed to 87%, from 79% the day before, tracking firm GasBuddy said.
Brent crude oil futures rose 2.48% to settle at $68.71 per barrel, and West Texas Intermediate crude advanced 2.43% to settle at $65.37 per barrel.
The two contracts lost about 3% on Thursday.
Reference: CNBC
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