Oil extends losses as heads for weekly fall on Iranian oil hopes | Reuters
Oil prices extended losses on Friday and were heading for a weekly fall as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis.
Brent crude futures fell 13 cents, or 0.1%, to $92.84 a barrel by 12:26 p.m. EDT (1526 GMT), extending a 1.9% drop from the previous session.
U.S. West Texas Intermediate (WTI) crude futures shed 68 cents, or 0.7%, to $91.08 a barrel after sliding 2% on Thursday.
Both benchmark contracts hit their highest levels since September 2014 on Monday, but the prospect of an easing of oil sanctions against Iran has set prices on course for their first weekly fall in nine weeks.
No comments:
Post a Comment