High oil prices – Al-Ittihad Newspaper

2023-07-07 07:21:04

Oil prices rose today, Friday, on their way to recording a second consecutive weekly gain, as strong demand led to a larger-than-expected decline in US crude inventories, which outweighed the impact of fears about the consequences of raising interest rates in the United States.
And by 0615 GMT, Brent crude futures rose 45 cents, or 0.6 percent, to $ 76.97 a barrel, and US West Texas Intermediate crude rose 44 cents, or 0.6 percent, to $ 72.24 a barrel.
Both benchmarks are expected to rise about 2 percent for the second week in a row.

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