Oil edges higher on supply concerns, China releases 4.43 mln barrels

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Oil prices rose on Friday for a fourth straight day due to global supply concerns following powerful storms in the United States, with China's first public sale of state crude reserves causing a momentary blip in the rise.

Brent crude was up 12 cents, or 0.2%, at $77.37 a barrel, by 0321 GMT, after touching two-month high on Thursday and closing at its highest since October 2018.

Oil companies in the United States have struggled to fully restore deliveries to the eastern seaboard after storms damaged facilities on the Gulf coast.

 

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