A significant drop in US crude stockpiles and fairly encouraging data on US manufacturing activity and jobless claims are also supporting oil's rise.
Worries about the impact of new and tougher US sanctions on some major Russian banks and energy firms including major oil producer Rosneft on the global economy are also contributing to oil's upmove.
Crude oil futures for August are up
With Thursday's crash of a
Wednesday's official inventory data from the
Meanwhile, natural gas for August is up
Traders will be looking ahead to the results of preliminary consumer sentiment survey for July from Reuters and the
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