TEMPO.CO, New York - World oil price keeps increasing by the end of trade on Friday, Dec. 8, as triggered by strong demands and geopolitical uncertainty which contributes support to the market.
Analysts mentioned the increasing global demands and geopolitical uncertainty in the Middle East have boosted oil price in this session.
Nevertheless, USA oil price recorded weekly loss amidst concerns of an increase in production in the country.
Read: World Oil Prices Drop Due to Rising Opec Supply
In the economic sector, the number of rigs operating in US oil fields doubled into the total of 751 rigs this week, while gas rigs remain the same with 180 rigs, as reported by Baker Hughes in their weekly report published on Friday.
In the US, West Texas Intermediate (WTI) crude oil for shipment in January rose U$ 67 cent adding up to U$ 57.36 per barrel in New York Mercantile Exchange.
Meanwhile, in the global market, Brent North Sea crude oil for shipment in February jumped U$ 1.20 adding up to U$ 63.40 per barrel in London ICE Futures Exchange.
ANTARA