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[size=36]New losses in oil prices for the second week[/size]
Economie| 09:37 - 19/03/2022
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Baghdad - Mozine News
, today, Saturday, oil prices recorded their second weekly loss in a row, after a volatile trading week, amid difficulty in finding an alternative to Russian oil in a market suffering from shortages.
Brent crude futures closed up $1.29, or 1.2 percent, to $107.93 a barrel, a day after it rose about 9 percent, in the largest daily percentage gain since mid-2020.
As for US West Texas Intermediate crude futures, it recorded a rise of $1.72, or 1.7%, at $104.70 a barrel, which is in addition to a jump of 8% in the previous session.
Both benchmark contracts ended the week down about 4 percent after prices moved in trading within the $16 range.
Prices reached their highest level in 14 years nearly two weeks ago, prompting a wave of profit-taking since then. 29/992
, today, Saturday, oil prices recorded their second weekly loss in a row, after a volatile trading week, amid difficulty in finding an alternative to Russian oil in a market suffering from shortages.
Brent crude futures closed up $1.29, or 1.2 percent, to $107.93 a barrel, a day after it rose about 9 percent, in the largest daily percentage gain since mid-2020.
As for US West Texas Intermediate crude futures, it recorded a rise of $1.72, or 1.7%, at $104.70 a barrel, which is in addition to a jump of 8% in the previous session.
Both benchmark contracts ended the week down about 4 percent after prices moved in trading within the $16 range.
Prices reached their highest level in 14 years nearly two weeks ago, prompting a wave of profit-taking since then. 29/992
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