Crude oil prices settled sharply higher in futures market on Friday, rebounding from the prior session's near 5%-drop as traders continued to digest the latest extension of production cuts from OPEC and some non-OPEC members.
Light sweet crude oil (WTI) futures rose 0.90 dollar or 1.84 percent to close at USD 49.80 a barrel at the New York-based commodity exchange NYMEX.
Brent crude oil futures went up 0.69 dollar or 1.34 percent to close at USD 52.15 a barrel at NYMEX. WTI-Brent spread was stable on May-2017.
Natural gas futures remained flat at 3.310 a gallon at the NYMEX. RBOB gasoline futures remained flat at 1.626 a gallon at the NYMEX.
In refined products, RBOB heating oil futures remained flat at 1.567 a gallon at the NYMEX.