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Oil Prices Up 3rd Straight Week; Some Keep Wary Eye on Gasoline

7 days ago   |   By FXCM

By Barani Krishnan
Investing.com - Oil prices were on track to mark a third week of gains on speculation of runaway summer demand for fuels, although some investors were keeping a wary eye on gasoline consumption, which hasn't performed to expectations since the start of the peak U.S. driving season.
West Texas Intermediate crude, the benchmark for U.S. oil, was up 85 cents, or 1.2%, at $71.14 per barrel by 2:00 PM ET. Its session high was $71.23, a peak since October 2018.
For the week, WTI showed a 2.2% gain, extending the 5% rise and 4% rally in the two weeks prior.
Brent crude, which...
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