Oil Prices Jump More Than $2 a Barrel

Oil prices rose by more than $2 a barrel on Friday in a shortened trading session ahead of the three-day holiday weekend in the U.S.

Traders shrugged off a rise in OPEC’s official production ceiling – a move they called symbolic – and they played down the significance of a decision Thursday by the oil cartel to suspend talks on an additional ceiling hike. The president of the Organization of Petroleum Exporting Countries said Thursday that the group would raise its output target if prices rose to $60 a barrel.

After Friday’s rally, that level is not too far away.
Forbes