Oil futures edge higher Friday, finding support as investors weigh the outlook for supply from Russia and Chinese demand.
Oil futures edged higher Friday, finding support as investors weighed the outlook for supply from Russia as production cuts kick in, while also gauging the outlook for Chinese demand.
Read:Why U.S. fuel prices continue to feel... Oil futures edged higher Friday, finding support as investors weighed the outlook for supply from Russia as production cuts kick in, while also gauging the outlook for Chinese demand. At the same time, U.S. crude inventories have continued to build, with domestic inventories rising by 7.6 million barrels last week, according to government data released Thursday.However, two Russian companies have announced that they plan to reduce their exports in March, presumably due at least in part to low prices, said Barbara Lambrecht, commodity analyst at Commerzbank, in a Friday note.
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