Oil Market Update : Epic Research Singapore

Oil futures climbed on Friday, adding to the week’s gain, as upbeat comments on the U.S. economy from Federal Reserve Chairwoman Janet Yellen helped provide a boost to the outlook for crude demand.

November West Texas Intermediate crude CLX5, +0.96%  settled at $45.70 a barrel, up 79 cents, or 1.8%. Based on the close of the October contract last Friday, which was the front month at the time, prices were up 2.3% on the week. The November contract itself was up 1.5% from a week ago.

Meanwhile, November Brent crude LCOX5, +0.39%  settled 43 cents, or 1%, higher at $48.60 a barrel on the ICE Futures exchange. The contract gained more than 2% for the week.

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