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Oil prices are falling
- Time: 02/17/2023 09:15:09
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{Economic: Al Furat News} Oil prices fell today, Friday, heading for weekly losses, as strong US economic data increased concern about the continuation of the Federal Reserve (US Central Bank) policy of monetary tightening to curb inflation, which may affect fuel demand even with the growth of inventories. raw.
And by 06:41 GMT, Brent crude futures fell 89 cents, equivalent to 1.05%, to $84.25 a barrel, while US West Texas Intermediate crude futures fell 96 cents, equivalent to 1.21%, also, to $77.54.
The two benchmarks are heading for a weekly decline of about 2%.
Data showed that the producer price index in the United States rose 0.7% in January, after falling 0.2% in December. Meanwhile, claims for unemployment benefits unexpectedly fell to 194,000, versus an expectation of 200,000 in a Reuters poll.
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{Economic: Al Furat News} Oil prices fell today, Friday, heading for weekly losses, as strong US economic data increased concern about the continuation of the Federal Reserve (US Central Bank) policy of monetary tightening to curb inflation, which may affect fuel demand even with the growth of inventories. raw.
And by 06:41 GMT, Brent crude futures fell 89 cents, equivalent to 1.05%, to $84.25 a barrel, while US West Texas Intermediate crude futures fell 96 cents, equivalent to 1.21%, also, to $77.54.
The two benchmarks are heading for a weekly decline of about 2%.
Data showed that the producer price index in the United States rose 0.7% in January, after falling 0.2% in December. Meanwhile, claims for unemployment benefits unexpectedly fell to 194,000, versus an expectation of 200,000 in a Reuters poll.
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