LONDON—Oil prices firmed on Friday as a meeting between Saudi Arabia and Russia calmed markets and after support measures stabilized a banking crisis that set oil prices on course for their biggest weekly fall since December.
Brent crude futures firmed by $1.09, or 1.46 percent, to $75.79 a barrel by 1040 GMT. U.S. West Texas Intermediate crude rose $1.20, or 1.76 percent, to $69.55.
Both benchmarks hit more than one-year lows this week and are on track for their biggest weekly falls since December at about 9 percent.
Oil and other global assets were pressured this week by the collapse of Silicon Valley Bank (SVB) and Signature Bank and trouble at Credit Suisse and First Republic Bank….