U.S. oil prices climb for the day, but end the week lower
U.S. oil prices climbed Friday but still ended with a loss for the week, pressured by signs of rising domestic crude inventories. The Energy Information Administration on Thursday reported that U.S. crude supplies rose unexpectedly last week, while data from Baker Hughes released Friday revealed a weekly climb in the number of domestic rigs drilling for oil. August West Texas Intermediate crude tacked on 86 cents, or 1.2%, to settle at $73.80 a barrel on the New York Mercantile Exchange, recouping some of Thursday’s 1.6% loss. For the week, prices fell roughly 0.5%.