consecutive monthly loss thOil rises, heads for 4

10:20 AM (Mecca time) Argaam
Oil drilling rigs

Oil drilling rigs

Oil prices rose on Friday but remain on track for a fourth straight monthly loss, marking their longest losing streak since 2023.

 

Brent futures for January 2026 delivery edged up 0.55%, or 34 cents, to $63.68 a barrel as of 09:09 am KSA time.

 

An outage at exchange operator CME Group today halted trade on its popular currency platform and in futures, spanning foreign exchange, commodities, Treasuries and stocks, Reuters reported.

 

January 2026 Nymex crude was last quoted at $59.08 a barrel, up 0.75% or 43 cents from Wednesday’s close. The contract did not record a settlement on Thursday due to the U.S. Thanksgiving holiday.

 

Both benchmarks are on course to end the week more than 1% higher, supported by expectations that the Federal Reserve may cut interest rates — a move that could bolster economic growth and oil demand — as well as a decline in the US rig count to its lowest level in four years.

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