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Oil Prices Register Weekly Rise

M. Ali 19 September, 2020 1:22 am Commodities, Market Update

Oil prices showed a mixed performance on Friday amid concerns over demand outlook and output disruptions, especially in North America.

Crude prices also received support from recent remarks reiterating the commitment of OPEC+ to restoring market balance.

Brent crude futures for November delivery decreased by 15 cents, or 0.4%, to finish at $43.15 per barrel, but surged by 8.3% for the week.

Meanwhile, the West Texas Intermediate (WTI) crude futures for October delivery rose by 14 cents, or 0.3%, and settled at $41.11 per barrel, rising by a little more than 10% for the week.

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