Crude oil futures extended their gains for a sixth day ended higher on Friday, with the concern of supply disruptions in the Middle East as violence in the restive Egypt continued unabated. Prices were also supported by some positive economic data out of the U.S… Building permits rose 2.7% to 943,000 units in July, while nonfarm productivity in the second quarter improved more than expected. However, the greatest increase was limited to an increase in the dollar and concerns that the U.S. Federal Reserve can begin decreasing the quantitative easing program in the near future.
The benchmark crude futures for September delivery gained $ 0.13, or 0.1 percent, to $ 107.46 a barrel, after trading in a range of $ 108.17 and $ 106.56 a barrel on the New York Mercantile Exchange. In London, Brent oil futures for September delivery gained 0.10% to $ 109.72 a barrel on the ICE.
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