NEW YORK—U.S. oil futures gained Friday on expectations of continued high demand, while global benchmark Brent held flat, bringing the price gap between the two contracts to the lowest point since July.
Light, sweet crude oil futures for November delivery settled up $1.01, or 1.1%, at $93.54 a barrel on the New York Mercantile Exchange. Prices gained 2.1% for the week.
The global Brent contract settled unchanged at $97 a barrel on the ICE Futures Europe exchange, posting a 1.4% loss for the week.
The U.S. contract, West Texas Intermediate, outperformed…
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BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.
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