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

Oil Prices Close Lower and Limit Weekly Gains

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%.

Check Also

Senate Approves Trump’s ‘One Big Beautiful Bill’: Key Provisions and Next Steps

The US Senate passed President Donald Trump’s ambitious legislative package, known as the “One Big …