Crude oil rises as traders weigh demand signals, pipeline flows

Oil prices climb above USD 97 a barrel toward the end a volatile week with prices fluctuating in a range of about USD 10.

Photo: Lucy Nicholson/Reuters/Ritzau Scanpix

Oil rose, all but erasing a weekly loss, as investors weighed the demand outlook and tracked disruption to a key North American pipeline.

West Texas Intermediate advanced above USD 97 a barrel in the final session of a volatile week in which prices have swung in a range of about USD 10. While US data this week showed rising gasoline stockpiles and stalling consumption, market signals including timespreads point to still-robust physical demand.

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