February natural gas NGG15, -2.31% bucked the trend, however, to lose 3 cents, or 1%, to $3.1270 per million British thermal units.
February heating oil HOG5, +2.53% rose 4 cents, or 2.6%, to $1.6656 a gallon. On the week, however, heating oil lost 2.2% and extended its losing streak to an eleventh week.
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Oil Market Update
Crude-oil futures rallied Friday, notching their first weekly gain in eight weeks as the International Energy Agency said collapsing crude prices would cut into supply growth from oil producers outside of the Organization of the Petroleum Exporting Countries.
Light, sweet crude futures for delivery in February CLG5, +4.82% advanced $2.44, or 5.3%, to settle at $48.69 a barrel on the New York Mercantile Exchange. On the week, oil rose 0.7%, snapping a seven-week losing streak.
Light, sweet crude futures for delivery in February CLG5, +4.82% advanced $2.44, or 5.3%, to settle at $48.69 a barrel on the New York Mercantile Exchange. On the week, oil rose 0.7%, snapping a seven-week losing streak.
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