RTTNews | Jul 16, 2021 10:33AM EDT

10:30 Friday, July 16, 2021 (RTTNews.com) - Oil and Gas company, NOW Inc (DNOW) is up 9% on the final day of the week despite the company not posting anything to boost the shares.

There have been reports that oil prices may see their worst week in a few months due to negative fuel inventory data and more supply being pumped into the markets. Oil edged up slightly on Friday but headed for the biggest weekly loss since mid-March on concerns over demand recovery amid a surge in new COVID-19 cases globally

The company focuses on manufacturing industrial products for the petroleum and chemical industries under the brand names Distribution NOW and DNOW. It operates in multiple countries including the US and Canada.

Currently, the shares are moving at $9.74, up $0.80 or 8.95% from their previous close at $8.94. The shares opened at $9.70 and in the 52-week period, they have moved between $4.03 and $11.98.

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