Oil Prices Dip but Stay on Track to Extend Last Week’s Gains

Oil Prices Dip but Stay on Track to Extend Last Week’s Gains

Crude oil prices were set for another weekly rise after additional 25% tariffs on Indian exports to the United States kicked in on Wednesday, raising doubts about the supply of Russian crude. At the time of writing, Brent crude was trading at $68.17 per barrel, with West Texas Intermediate at $64.20 per barrel, both slightly down from Thursday’s close as the end of driving season in the United States comes and the seasonal fuel demand peak passe…

Oil Prices Dip On Weak U.S. Demand Fears, Ukraine Ceasefire Talks » News.ng

Global crude prices declined on Friday as concerns over weaker U.S. demand combined with speculation about potential negotiations aimed at halting the conflict in Ukraine. Brent crude for October settlement, which expires Friday, dropped by 48 cents (0.7%) to $68.14 per barrel at 10:18 a.m. The more active November contract slipped 52 cents (0.76%) to $67.46. U.S. benchmark West Texas Intermediate (WTI) also retreated, down 56 cents (0.87%) to $…