New york: US crude futures rose as much as 3% in early trading on Friday. West Texas Intermediate (WTI) oil prices were trading up 2.58%, or $2.45, at $97.26 a barrel, as of 2233 GMT, after initially gaining more than 3%.
According to Emirates News Agency, the WTI contract had settled down 27 cents at $94.81 per barrel in the previous trading session. The sudden rise in prices reflects a significant shift in market dynamics, as traders responded to various factors influencing the oil industry.