Open Demo Account
Home / Market Update / Commodities / Oil Finishes the Week in Losses
Oil and Gas oil (
Oil and Gas

Oil Finishes the Week in Losses

M. Ali 22 May, 2021 12:57 am Commodities, Market Update

Oil prices rose on Friday, amid possible supply disruptions in North American due to a subtropical storm forming near the Gulf of Mexico.

However, crude futures failed to recover all of its weekly losses.

Brent crude futures for July delivery gained $1.33, or 2%, to settle at $66.44 per barrel.

The global benchmark futures registered a weekly decline of 3.3%.

Meanwhile, the West Texas Intermediate (WTI) crude futures for July delivery added $1.64, or 2.7%, to close at $63.58 per barrel, registering a weekly loss of 2.7%.

Tags

Check Also

XAU/USD Under Pressure as Dollar Strengthens

Gold prices are currently facing headwinds, trading below $2,600 per ounce. This decline coincides with …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends