Friday, 27 July 2018

Oil markets slip after 3 days of gains; U.S.-Europe trade tension eases | ZAWYA MENA Edition

Oil markets slip after 3 days of gains; U.S.-Europe trade tension eases | ZAWYA MENA Edition:

Oil prices slipped on Friday in quiet trading after three days of gains, but took support from Saudi Arabia halting crude transport through a key shipping lane, falling U.S. inventories and easing trade tensions between Washington and Europe.

Brent futures were down 22 cents, or 0.3 percent, at $74.32 a barrel by 0236 GMT, after gaining 0.8 percent on Thursday.

U.S. West Texas Intermediate futures were 7 cents lower, at $69.54, after posting a nearly 0.5-percent gain the previous session.

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