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Oil prices end up for the day on forecast for rising demand, but lower for the week

“The International Energy Agency raised its forecast for global oil demand growth by 110,000 barrels a day to 1.5 million barrels for 2019” writes Rachel Koning Beals for marketwatch.com. Oil prices settled higher Friday as a forecast for rising global crude demand, and supply boosts from Russia, offset lingering concerns about trade tensions cutting global consumption of energy products.The total active U.S. rig count, which includes oil and natural-gas rigs, increased by 13 to 1,057 from 1,044, according to Baker Hughes.Meanwhile, September heating oil HOU8, +1.59% rose 2.8 cents, or 1.3%, to settle at $2.1397 a gallon, contributing to a weekly rise of 0.6%.
 
Source: marketwatch.com



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