Crude Oil Futures Finish Strong on Friday

Crude oil futures jumped on Friday as traders weighed the outcome of President Trump’s decision to decertify the Iran nuclear agreement, according to Bloomberg MarketWatch.

November West Texas Intermediate crude rose 85 cents, or 1.7%, to settle at $51.45 a barrel on the New York Mercantile Exchange. For the week, WTI was up around 4.4%.

December Brent crude, the global benchmark, added 92 cents, or 1.6%, to end trading at $57.17 a barrel on ICE Futures Europe Exchange. Brent crude rose nearly 2.8% for the week.

Warning that he could cancel U.S. participation in the nuclear pact at any time, President Trump laid out a new strategy to deal with Iran including the use of additional sanctions to block its “financing of terror.”.

“We will deny the regime all paths to a nuclear weapon,” said Trump.

Back on the New York Mercantile Exchange, November natural gas advanced 0.4% to $3 per million British thermal unit for a weekly rise of 4.8%.