Oil prices end last week on a higher note amid supply concerns and stronger data from USA

Rising for the fifth consecutive day, February crude oil prices have risen to US$99.6, while Brent February settled at US$107.9. Oil ended last week on a higher note on concerns about potential supply disruptions in Iran and Iraq and recent signs of a strengthening US economy. However, the ongoing Christmas holidays have kept trading volumes thin. Better than expected economic figures have strengthened equities on the Wall Street and turned the S&P 500 index positive for the year in a four-day rally to end up for the week.
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