Oil futures tallied a slight gain on Thursday, ending the holiday-shortened trading week higher. Traders found support after the International Energy Agency said the global oil market was "very close" to reaching a balance between supply and demand. A thirteenth straight week rise in the number of active U.S. oil rigs, however, implied that domestic production was poised to continue its climb. May West Texas Intermediate crude tacked on 7 cents, or 0.1%, to settle at $53.18 a barrel. Prices were up about 1.8% from last Friday's close. Oil trading will be shut for Good Friday.
Continue Reading Below
Copyright © 2017 MarketWatch, Inc.