Green alternatives reign as black gold makes a comeback

Oil prices rose again in daily trading today, Friday, but heading towards fixing weekly losses exceeding the 6% mark.

By 14:57 Moscow time, Brent crude futures rose 0.22% to $81.28 a barrel, while US oil futures rose 0.26% to $77.57 a barrel.

Oil prices show their first weekly decline in four weeks, down 5.84% for Brent blend and 5.97% for US oil.

Experts attribute the decline in oil prices at the end of this week to weak economic data, which investors can interpret as pointing to recession risks and lower oil demand.

Source: Prime + Bloomberg.

Related Stories

Leave a Reply