Crude futures post largest weekly increases in 2017

摘要

New York—Crude futures settled higher for the fifth consecutive day Friday, with front-month ICE Brent posting its largest weekly increase since early December and the front-month to second-month spread settling in backwardation for the first time since January 31. September ICE Brent settled $1.03 higher at $52.52/b Friday, eclipsing the October contract by 30 cents/b. The September contract rolls off the board on Monday, and front-month contracts often receive a late boost as traders rush to cover short positions.