Oil prices ticked higher Friday, capping a tumultuous week for a market that continues to be plagued by a global glut. Brent crude, the global benchmark, gained 32 cents, or 0.7%, to $45.54 a barrel on ICE Futures Europe. That wasn't enough to overcome large losses from earlier this week, leaving U.S. prices down 4.4% and global prices down 3.9% over the last five sessions. Signs that big producers are abiding by their deal to limit output and weather-related output challenges in the U.S. supported prices. High global oil inventories are "raising market concerns about the efficacy of OPEC market management," said Jason Gammel, analyst at Jefferies.

Source: Wall Street Journal June 24, 2017 00:11 UTC