World Commodities - WORLD COMMODITIES TRADING - World oil prices surge on US data.
Oil prices inched up on Friday, ending the week higher after stronger-than-expected US economic data brightened the crude demand outlook and concerns over the safety of oil transport around the Strait of Hormuz threatened supply.
Brent crude futures LCOc1 settled at $63.46 a barrel, up 7 cents. They clocked a weekly rise of about 1.7%. US West Texas Intermediate crude CLc1 settled at $56.20 a barrel, rising 18 cents. It gained about 1.2% on the week.
US economic growth slowed less than expected in the second quarter with a boom in...
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