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In a week, oil closes with significant gains of more than 12%
Shafaq News/ International oil prices achieved significant weekly gains, amounting to more than 12%, with the closing of the week's trading, today, Saturday.
Brent crude closed in its last session yesterday, Friday, with a rise of 1.62 dollars, to reach 120.65 dollars, and achieved a weekly profit of 12.72 dollars, equivalent to 11.79%.
The US West Texas Intermediate crude also closed up by 1.56 dollars to reach 113.90 dollars per barrel, but it also recorded a weekly profit of 9.02 dollars, or 8.79%.
Oil prices rose during the past week, after news of the European Union agreement to dispense with Russian oil and gas, as well as the scarcity of supply due to the inability of some OPEC countries to reach the production specified for them.
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Brent crude closed in its last session yesterday, Friday, with a rise of 1.62 dollars, to reach 120.65 dollars, and achieved a weekly profit of 12.72 dollars, equivalent to 11.79%.
The US West Texas Intermediate crude also closed up by 1.56 dollars to reach 113.90 dollars per barrel, but it also recorded a weekly profit of 9.02 dollars, or 8.79%.
Oil prices rose during the past week, after news of the European Union agreement to dispense with Russian oil and gas, as well as the scarcity of supply due to the inability of some OPEC countries to reach the production specified for them.
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