Oil Heads for Weekly Gain with Mideast Supply Risks
Brent and WTI are set for weekly gains as attacks around the Strait of Hormuz cut flows and keep a risk premium in prices.
10 Articles
10 Articles
Oil prices are declining moderately on Friday morning, but they may end the week on the plus side.
Oil eases, but set for weekly gain on Mideast supply risks
BEIJING/SINGAPORE: Oil prices eased on Friday but were heading for weekly gains on uncertainty over Middle East supplies and a larger-than-expected draw from crude stockpiles in the United States. Houthis claim attack targeting Riyadh airport with ballistic missile Brent crude futures fell 50 cents, or 0.47%, to $105.42 a barrel by 0623 GMT, while US West Texas Intermediate crude futures were down 49 cents, or 0.50%, to $97.48. WTI settled up mo…
The oil dropped during the day, but Brent and WTI were heading to close the week with profits. Reuters pointed out that uncertainty about flows through the Strait of Hormuz and the decline in US inventories were among the factors that kept the market's attention.
Oil fell slightly in international trade.
Oil prices ease but remain on track for weekly gains amid supply concerns
KEY POINTS MAIN STORY Oil prices declined on Friday but remained on course for weekly gains as concerns about crude supplies from the Middle East and a larger-than-expected drawdown in US crude inventories supported the market. Brent crude futures fell 71 cents, or 0.67 per cent, to $105.21 a barrel by 0352 GMT, while US […] Continue reading %%POSTNAME%% at %%BLOGNAME%%.
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