Oil fell below $115 a barrel on Friday as signs of weakness in the global economy weighed on the demand outlook, although a host of supply-side concerns kept losses in check.
Crude was still heading for a fourth weekly gain because of lower exports from Iran, a drop in North Sea supply due to oilfield maintenance and the risk of weather-related disruption to Gulf of Mexico output.
Brent crude was down 38 cents at $114.63 a barrel by 0838 GMT, up about 0.8 percent on the week. U.S. crude eased 58 cents to $95.69.
No comments:
Post a Comment