[size=36]Low oil prices in world markets[/size]
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Oil prices fell on Friday, with supply concerns receding in light of the continued division of European Union countries over imposing an oil embargo on Russia, while the United States and its allies are considering releasing more oil from storage to calm markets.
Brent crude futures fell 46 cents, or 0.4%, to $118.57 a barrel by 0529 GMT, after falling 2.1% in the previous session.
US West Texas Intermediate crude futures fell 47 cents, or 0.4%, to $111.87 a barrel, after losing 2.3% in the previous session.
Both contracts are heading to achieve their first weekly increase in three weeks, as “Brent” is heading for a 10% jump, while “West Texas Intermediate” is heading for a 7% rise after greater fears of a supply crisis caused by the European Union’s thinking to boycott Russian oil. earlier in the week.