Brent crude was set for a 6% weekly gain as President Donald Trump said his patience with Iran was running out, despite Iran saying 30 vessels had recently cleared the Strait of Hormuz.
Venezuela-owned U.S. refiner Citgo Petroleum said on Thursday it made a first-quarter profit of $157 million, compared with an $82 million loss in the same period last year, thanks to a higher utilization of its 829,000 barrel-per-day processing capacity.
Curious Minds Corner
How many gallons of gasoline does one barrel of crude oil actually yield?
About 19-20 gallons after refining, with the rest becoming diesel, jet fuel, and other products.