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US crude ticks up 11 cents, settling at $50.66 for third straight weekly gain 2017-09-22
US crude ticks up
Oil prices rose on Friday, hovering close to their highest levels in months, as major producers may wait until January before deciding whether to extend their output curbs beyond the first quarter.

Russia's energy minister said no decision was expected before January, although other ministers suggested such a decision could be taken before the end of this year.

"I believe that January is the earliest date when we can actually, credibly speak about the state of the market," Russian Energy Minister Alexander Novak said. Other ministers suggested a decision could come this year.

U.S. West Texas Intermediate (WTI) crude futures ended Friday's session 11 cents higher at $50.66 per barrel, the highest settle since May 24. The contract was up about 1.5 percent on the week, marking the third straight weekly gain.

International benchmark Brent crude futures rose 38 cents to $56.81 a barrel at by 2:18 p.m. ET (1818 GMT). The contract earlier hit $56.87, the highest intraday level since March 1.
--News from www.cnbc.com

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