Crude oil futures though ended higher on Friday but snapped the week in negative terrain, as investor sentiment soured on oil prices this week, following data showing Opec output increased in July as its members failed to adhere to output limits set out in the global deal to curb production. There was some recovery in the prices with IEA report that global oil demand is expected to reach 1.5 million barrels per day this year, up from its July forecast of 1.4 million. Meanwhile, Baker Hughes reported that the number of active U.S. rigs drilling for oil climbed by 3 to 768 rigs this week. 

However, the total active US rig count including nat. gas rigs fell by 5 to 949. Benchmark crude oil futures for September delivery ended up by $0.23 or 0.5 percent to $48.82 on the New York Mercantile Exchange. In London, Brent crude for September delivery ended higher by $0.14 at $52.23 a barrel on the ICE.

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