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Oil prices closed with significant gains during the past week
Shafaq News/ Oil prices closed with gains, supported by continued fears of supply disruptions, fueled by cold weather in the United States and political turmoil among major producers in the world.
Brent crude closed in its last session, Friday, with a rise of 2.16 dollars, to reach 93.27 dollars, and achieved a weekly profit of 3.24 dollars, or 3.6%, in a week.
The US West Texas Intermediate crude also closed at a rise of $2.04 to reach $92.31 a barrel, and achieved a weekly profit of $5.49, or an equivalent rate of 6.32%.
Oil prices rose over the past week and concerns about supplies escalated this week after a possible military conflict in Ukraine would disrupt energy markets, and Iraq, the second largest producer in OPEC, was unable to reach its oil production set by the organization of 4.28 million barrels. daily in January, which raises fears of a shortage of oil supplies.
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Brent crude closed in its last session, Friday, with a rise of 2.16 dollars, to reach 93.27 dollars, and achieved a weekly profit of 3.24 dollars, or 3.6%, in a week.
The US West Texas Intermediate crude also closed at a rise of $2.04 to reach $92.31 a barrel, and achieved a weekly profit of $5.49, or an equivalent rate of 6.32%.
Oil prices rose over the past week and concerns about supplies escalated this week after a possible military conflict in Ukraine would disrupt energy markets, and Iraq, the second largest producer in OPEC, was unable to reach its oil production set by the organization of 4.28 million barrels. daily in January, which raises fears of a shortage of oil supplies.
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