Oil

OPEC said world oil demand will increase by close to 1.14 million barrels per day this year -- 70,000 bpd less than expected.

All three major averages are on pace for their second straight week of gains.

Oh, sure you might say that the natural gas sector is beaten and battered, and its best days are behind it. Of course that’s also what they said about the Cowboys in 1989.

A third of all oil traded by sea passes through the strait, which is the narrow mouth of the Persian Gulf.

Trade tensions between the United States and China, the world's two biggest oil consumers, also weighed on prices.

Crude oil prices and the yield on the 10-Treasury closed relatively unchanged: $53.28 per barrel and 2.15 percent, respectively.

The Organization of the Petroleum Exporting Countries and some non-members, including Russia, have withheld supplies since the start of the year to prop up prices.

Supply has also been limited by U.S. sanctions on oil exports from Iran and Venezuela.