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Oil Hits Three-Month High as U.S. Stock Markets Advance

Brent crude rose 0.1% on London’s Intercontinental Exchange

By

Dan Molinski and

Dan Molinski

The Wall Street Journal

Biography Dan Molinski
@molinskidan
dan.molinski@wsj.com

Christopher Alessi

The Wall Street Journal

Biography Christopher Alessi
@ChrisAlessiWSJ
christopher.alessi@wsj.com

Updated Feb. 22, 2019 3:44 p.m. ET

•Oil prices rose to a fresh three-month high Friday on the back of rising U.S. stock markets, a decline in drilling activity and hopes for a U.S.-China trade deal.

•Light, sweet crude for April delivery ended the day 0.5% higher at $57.26 a barrel on the New York Mercantile Exchange. It was the highest closing price since Nov. 12, and leaves the U.S. benchmark 2.3% higher for the holiday-shortened week.

•Brent...

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