home Finance Oil extends win streak to 4 days, finishes at 6-week high

Oil extends win streak to 4 days, finishes at 6-week high

Oil ended higher Thursday for a fourth consecutive session, with the U.S. benchmark settling at a more-than-six-week high on expectations for stronger demand and efforts by major producers to maintain a cap on crude output.

October West Texas Intermediate oil CLV7, +0.02%  on the New York Mercantile Exchange rose 59 cents, or 1.2%, to settle at $49.89 a barrel after hitting a session high of $50.50. Prices settled at their highest since July 31, which was also the last day they finished above $50, FactSet data show.

November Brent crude LCOX7, +0.25% rose 31 cents, or 0.6%, to $55.47 a barrel on the ICE Futures Europe exchange, holding ground at their best levels in about five months.

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