The energy commodity benefited from the news about the U.S. dollar since the nation is the globe's top consumer of oil. As the U.S. economy strengthens, hopes for increased consumption gain momentum.
Energy prices will continue rising once the U.S. demonstrates steady growth rather than the erratic development it has seen as of late, one advisor told The Wall Street Journal.
"The signs are good, but we need to see more consistently" regarding developing and growth in the economy, head Carl Larry with advisory firm Oil Outlooks and Opinions told the news source on Friday.
At 12:36 p.m. on Friday, West Texas Intermediate crude oil futures rose 0.32 percent, a 28-cent gain to $93.31 per barrel. Brent crude oil futures shot up 0.73 percent, an 81-cent increase to $109.71 per barrel.
Bloomberg reports the U.S. dollar has lost value for two consecutive trading sessions against the euro, spurred on Friday by economic data noting contained inflation.
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