Oil futures jumped 9% on Friday to settle at their highest level in two weeks, rebounding from oversold conditions as traders bet that major central banks will announce fresh stimulus measures that may improve sentiment for the beleaguered commodity.March West Texas Intermediate crude CLH6, +9.21% added $2.66, or 9%, to settle at $32.19 a barrel on the New York Mercantile Exchange. That was the biggest one-day percentage gain since Aug. 27 and highest settlement since Jan. 8, according to FactSet data.

For the week, WTI prices gained 9.4% based on last Friday’s closing level for the February contract, which expired Wednesday. The March contract itself was up 5.9% from its settlement a week ago.
Brent crude LCOH6, +9.68% the global oil benchmark, rose $2.93, or 10%, to $32.18 a barrel on London’s ICE Futures exchange, set for a weekly gain of nearly 9%.
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