Oil Market Update

Crude-oil futures climbed on Friday to score a 7.2% gain for the week, finding support from an upbeat U.S. jobs report and a drop in the number of active drilling rigs.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March CLH5, +3.68%  settled at $51.69 a barrel, up $1.21, or 2.4%, for the session.

Brent crude for March delivery LCOH5, +2.81%  on London’s ICE Futures exchange rose $1.23, or 2.2%, to $57.80 a barrel — 9.4% higher for the week.