COM - U.S. crude price caps 5% weekly rise to near three-year high

Crude oil prices climbed to their highest levels in more than two years today, as optimism over a crude demand recovery and tighter supplies lifted the U.S. benchmark by 5% for the week.Nymex July WTI crude (CL1:COM) settled +1.2% to $69.62/bbl, while August Brent crude (CO1:COM) capped a 4.6% weekly gain by closing +0.8% to $71.89/bbl.U.S. and global benchmark crude prices scored their highest levels since October 2018 and May 2019, respectively.ETFs: [[XLE]], [[USO]], [[UCO]], [[XOP]], [[VDE]], [[GUSH]], [[OIH]], [[ERX]], [[BGR]], [[BNO]], [[SCO]]"There are a lot of moving parts in oil markets at the moment, but... the key upside support right now is the growing realization that demand is recovering" from the pandemic, even though "the jury is still out" on whether lofty expectations will be fully realized, Matthew Parry, head of long-term analysis at Energy Aspects, tells MarketWatch.Also helping oil this week was a slowdown in talks between the

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U.S. crude price caps 5% weekly rise to near three-year high