<\/p>\n\n\n\n
Oil prices fell for a third straight session on Friday, heading for their first weekly loss in three weeks, as markets weighed the prospect of higher supply and unexpected U.S. inventory builds against lingering geopolitical risks.<\/p>\n\n\n\n
By 08:10 GMT<\/strong>, Brent crude futures<\/strong> slipped 0.5% to $66.64 per barrel<\/strong>, while U.S. West Texas Intermediate (WTI)<\/strong> dropped 0.5% to $63.15<\/strong>. Both benchmarks are set for losses this week, with Brent down 2.2%<\/strong> and WTI down 1.3%<\/strong>.<\/p>\n\n\n\n The decline follows Wednesday\u2019s U.S. government data<\/strong> showing crude stockpiles unexpectedly rose by 2.4 million barrels<\/strong> last week, compared with expectations for a draw.<\/p>\n\n\n\n Adding pressure, Reuters<\/strong> reported that eight members of OPEC+<\/strong> will consider raising output<\/strong> at Sunday\u2019s meeting. Such a move could see the group begin unwinding a second layer of cuts \u2014 around 1.65 million barrels per day<\/strong>, equal to 1.6% of global demand<\/strong> \u2014 more than a year ahead of schedule.<\/p>\n\n\n\n John Evans of oil broker PVM said there are \u201cincreasing stories and signs of a future where feedstock supply is unlikely to be a problem,\u201d underscoring expectations of ample supply in the coming months.<\/p>\n\n\n\n Analysts at BMI<\/strong> noted that strength in refining margins had supported oil prices in recent months, but warned margins will likely tighten as demand growth slows and refiners enter seasonal maintenance cycles.<\/p>\n\n\n\n Despite the bearish sentiment, supply risks remain. U.S. President Donald Trump<\/strong> urged European leaders on Thursday to stop buying Russian oil<\/strong>, highlighting the geopolitical risk premium still embedded in the market.<\/p>\n\n\n\n Any disruption to Russian crude exports \u2014 whether through sanctions, tariffs, or conflict \u2014 could quickly tighten global supply and push prices higher, countering the recent bearish momentum.<\/p>\n","protected":false},"excerpt":{"rendered":" Oil prices fell for a third straight session on Friday, heading for their first weekly loss in three weeks, as markets weighed the prospect of higher supply and unexpected U.S. inventory builds against lingering geopolitical risks. Prices Edge Lower, Weekly Losses Loom By 08:10 GMT, Brent crude futures slipped 0.5% to $66.64 per barrel, while …<\/p>\n","protected":false},"author":9,"featured_media":102545,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,37,36],"tags":[],"class_list":["post-118477","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/118477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=118477"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/118477\/revisions"}],"predecessor-version":[{"id":118478,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/118477\/revisions\/118478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/102545"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=118477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=118477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=118477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}OPEC+ Production in Spotlight<\/h3>\n\n\n\n
Refining Margins, Demand Concerns<\/h3>\n\n\n\n
Geopolitics Still a Risk Premium<\/h3>\n\n\n\n