Oil declines 2% on Gulf resolution
Crude oil prices dropped by about 2% on Friday, as concerns about supply shortages eased following a gradual resumption of ship traffic through the Strait of Hormuz, despite the attack on a vessel near Oman. Brent prices declined to $73.83, while U.S. West Texas Intermediate (WTI) fell to $70.49, reflecting weekly losses of nearly 8% after previous gains driven by the alleged shooting incident involving a vessel and fears of disruptions to Venezuelan supplies.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)