Oil prices climb as U.S. equities rebound
NEW YORK, March 17 — Oil prices ended higher on Friday amid the rebound of U.S. stocks market.
U.S. stocks ended higher on Friday as investors meditated on a batch of generally positive economic reports.
Analysts said crude futures have moved in sync with equities consecutively for the past 100 trading days, the longest such stretch in two years.
The West Texas Intermediate for April delivery rose 1.15 U.S. dollar to settle at 62.34 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery added 1.09 dollar to close at 66.12 dollars a barrel on the London ICE Futures Exchange.