Oil climbs on switch from gas and doubts over US releasing reserves By Reuters – Investing.com

Oil climbs on switch from gas and doubts over US releasing reserves By Reuters – Investing.com

By Sonali Paul

MELBOURNE (Reuters) - Oil prices rose on Friday, tracking towards a 4.2% gain for the week on signs some industries have begun switching fuel from high priced gas to oil and on doubts the U.S. government would release oil from its strategic reserves for now.

U.S. West Texas Intermediate (WTI) crude futures climbed by 84 cents, or 1.1%, to $79.14 a barrel at 0122 GMT.