Oil rises but fears of weaker demand limit gains

  13 May 2022    Read: 325
Oil rises but fears of weaker demand limit gains

Oil prices extended gains on Friday but were headed for their first weekly loss in three weeks as worries about inflation and China's COVID lockdowns slowing global growth offset concerns about dwindling fuel supplies from Russia, AzVision.az reports citing Reuters. 

Brent crude futures were up $1.81, or 1.7%, at $109.26 a barrel at 0403 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed $1.55, or 1.5%, to $107.68 a barrel.

Both benchmark contracts were, however, on track to post declines for the week, with Brent set to drop nearly 3% and WTI nearly 2%.


More about: Brent   WTI   crude  


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