U.S. crude oil prices pushed past $80 with the global benchmark Brent crude also enjoying its first weekly gain since mid-April on Chinese industrial output data and U.S. consumer prices, both of which came in more favorably than anticipated for April.
Brent crude increased by 0.8 percent to 83 dollars 98 cents per barrel. The West Texas Intermediate (WTI) also showed gain of 1.05 percent to 80 dollars six cents per barrel, when reports last came in.