Crude Oil Futures End Higher On Friday

Crude oil futures once again moved higher on Friday, despite fears that Hurricane Harvey could disrupt refinery activity, reducing demand for crude oil. The government weather agencies said Harvey became a Category 2 storm as it crossed the Gulf of Mexico with winds of 110 mph (175 kph), 145 miles (235 km) off Port O'Connor, Texas. Traders also got some support with oilfield services firm Baker Hughes report, which said its weekly count of oil rigs operating in the United States fell by four to a total of 759 this week.

Benchmark crude oil futures for October delivery ended up by $0.44 or 0.9 percent to $47.87 on the New York Mercantile Exchange. In London, Brent crude for October delivery ended higher by $0.37 at $52.41 a barrel on the ICE.

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