Open Demo Account
Home / Market Update / Commodities / Oil Prices Close Lower and Limit Weekly Gains

Oil Prices Close Lower and Limit Weekly Gains

M. Ali 29 August, 2020 1:57 am Commodities, Market Update

Oil prices settled lower on Friday, but recorded weekly gains mostly due to output disruptions in the Gulf of Mexico that resulted from Hurricane Laura.

Brent crude futures for October delivery decreased by 4 cents, or 0.09%, and finished at $45.05 per barrel, rising by 1.6% for the week.

The West Texas Intermediate (WTI) futures for October delivery fell by 7 cents, or 0.2%, and settled at $42.97 per, finishing the week higher by 1.5%.

Tags

Check Also

Treasury Yields Slide as Trump–Xi Trade Rift Deepens

Renewed tensions between US President Donald Trump and Chinese counterpart Xi Jinping have unsettled global …

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