Crude oil prices continued to rise Friday morning, extending big weekly gains after the Bank of Japan’s surprise stimulus announcement.
March crude oil was up 36 cents at $33.56 a barrel, moving further from recent 12-year lows near $26.
Prices have rallied amid speculation that OPEC and Russia will curb oil supplies.
On the economic front, the Commerce Department is scheduled to release its advance estimate of fourth quarter U.S. GDP at 8:30 am ET. Economists expect a slowdown in the sequential pace of growth to 0.9 percent.
The material has been provided by InstaForex Company – www.instaforex.com