Oil futures rallied Friday, shaking off sharp losses earlier in the day and rebounding from their lowest settlement in more than five years.Light, sweet crude futures for January delivery CLF5, +5.17% rose $2.42, or 4.4%, to finish at $56.52 a barrel on the New York Mercantile Exchange.
Brent crude for February delivery on London’s ICE Futures exchange LCOG5, +4.86% rose $2.11, or 3.6%, to $61.38 a barrel. On the week, Brent lost 1.2%, also its fourth straight weekly loss.
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