WTI posts fourth straight weekly gain [Video]

U.S. crude oil fell on Friday, but still booked a fourth straight weekly gain as falling inventories show an uptick in demand.

West Texas Intermediate hit a session high of $84.52 per barrel, the highest level since late April, before pulling back. The U.S. benchmark gained about 2% this week, while global benchmark Brent was up 0.15%.

Here are Friday’s closing energy prices:

• West Texas Intermediate August contract: $83.16 per barrel, down 72 cents, or 0.86%. Year to date, U.S. crude oil has gained 16.1%.
• Brent September contract: $86.54 per barrel, down 89 cents, or 1.02%. Year to date, the global benchmark is ahead by 12.3%.
• RBOB Gasoline August contract: $2.56 per gallon, down 3 cents, or 1.31%. Year to date, gasoline is ahead by 22.1%.
• Natural Gas August contract: $2.32 per thousand cubic feet, down 9 cents, or 3.85%. Year to date, gas is lower by 7.5%.

Oil market analysts have been forecasting a tighter market in the third …