Oil futures mark first climb in 6 sessions, suffer a more than 6% weekly loss

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Oil futures ended sharply higher on Friday, getting a boost, in part, due to reports of an attack on an oil facility in Saudi Arabia. Prices, however, posted a big decline for the week, pressured by concerns over the slow vaccine rollout in Europe, which poses a risk to the recovery in energy demand. April West Texas Intermediate crude
CLJ21,
+2.40%
climbed $1.42, or 2.4%, to settle at $61.42 a barrel on the New York Mercantile Exchange. Based on the front-month contract, prices lost 6.4% for the week, according to Dow Jones Market Data.

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