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Futures Movers: Oil prices rise ahead of rig count, with weekly gain in sight

Oil futures rose Friday, on track to wrap up a week of gains with the latest industry rig-count report.

April West Texas Intermediate crude CLJ7, +0.49% rose 20 cents, or 0.4%, to $48.96 a barrel on the New York Mercantile Exchange. May Brent crude LCOK7, +0.46% on London’s ICE Futures Exchange rose 17 cents, or 0.3%, to $51.91 a barrel. Both contracts were off session highs.

Oil prices were on track to close the week higher, with WTI oil and Brent crude each up roughly 1% after dipping earlier in the week to lows last seen in November.

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