Oil Set For A Weekly Gain As Global Energy Prices Surge

Oil prices were headed for a fourth consecutive weekly gain early on Friday as natural gas and power prices are surging globally and supporting the energy complex. Early on Friday, however, the price of oil was slightly down due to a stronger U.S. dollar and to profit-taking after oil prices settled at a seven-week high on Wednesday. As of 9:11 a.m. EDT on Friday, WTI Crude was down 0.36% at $72.35 and Brent Crude traded down 0.15% at $75.55. Oil prices started rising this week thanks to a bullish report from OPEC on Monday. The surge of the Delta…