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Stock advisory Company, Crude futures extend surge on Friday
Crude oil futures extended their gains on Friday amid concerns of supply disruptions from Nigeria, as workers are threatening to strike at a crucial production facility and also on stronger Chinese crude demand. Data showed China's crude oil imports rose to 9.01 million barrels per day (bpd) raising expectations that solid global demand growth would continue to support rebalancing in markets. Meanwhile, oilfield services firm Baker Hughes reported that US rig count, an early indicator of future output, ticked up by two oil rigs to a total of 751 in the passing week.
Benchmark crude oil futures for January delivery ended higher by $0.67 or 1.2 percent at $57.36 a barrel on the New York Mercantile Exchange. Brent crude for February delivery was up by 1.6 percent to $63.19 a barrel on the ICE.
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