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Editor in Chief Mohamed Wadie

Oil Posts Fourth Weekly Gain in Row ... Brent Closes at $86.5


Sun 07 Jul 2024 | 04:15 AM
Taarek Refaat

Oil prices settled lower on Friday as concerns about supply disruptions eased amid growing prospects for a ceasefire in Gaza.

Brent crude futures fell 1.02% to settle at $86.54 a barrel after hitting their highest since April earlier in the session. U.S. West Texas Intermediate (WTI) crude futures fell 0.9% to settle at $83.16.

Oil posted a fourth straight weekly gain, with Brent up 0.4% on the week, while WTI futures rose 2.1% this week.