WTI Jumps To $40 On Demand Recovery

The U.S. benchmark WTI Crude jumped to $40 a barrel early on Friday with oil prices heading for a strong weekly gain, after the OPEC+ group had laggards pledge full compliance with the supply cuts and the oil market’s price structure showed signs of demand recovery. As of 10:57 a.m. EDT on Friday, WTI Crude up 3.27 percent at $40.05 and Brent Crude was up 2.51 percent at $42.48, with the benchmarks set for a weekly gain of around 10 percent, after the first weekly loss in seven weeks last week. On Friday, oil prices reacted to bullish signals…