2023-12-23 22:05:19
Oil prices continued to rise last week for the second week in a row, and crude oil rose by regarding 3%, supported by concerns regarding supply flows, while expectations of a rise in Angola’s production reduced losses.
Crude prices ended the week’s trading on a decline.
Oil prices fell at the end of the trading week the day before yesterday, ahead of the weekend and Christmas, amid expectations that Angola will increase its production following its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), but prices rose at the beginning of the week supported by positive news regarding the American economy. Brent crude futures fell 32 cents, or 0.4%, to settle at $79.07 per barrel.
US West Texas Intermediate crude also fell 33 cents, or 0.5%, to $73.56 at settlement, but the two benchmarks rose by regarding 3% last week following rising by less than 1% the week before last.
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