Oil futures end higher for the session, modestly lower for the week

Oil futures finished higher on Friday, with supply concerns helping prices pare their loss for the week. Still, “lately it has been mostly bad news for oil prices as demand concerns worsened given China’s deteriorating COVID situation, a surprise jump in stockpiles, and on expectations world leaders will continue to exhaust emergency measures to send energy prices lower,” said Edward Moya, senior market analyst at OANDA. October WTI crude CLV22, +3.06% climbed $3.25, or 3.9%, to settle at $86.79 a barrel on the New York Mercantile Exchange, with front-month prices down about 0.1% for the week, according to Dow Jones Market Data.