2023-07-07 14:17:15
Oil prices fell, as the US jobs report had little effect on fears of raising interest rates once more, but crude prices are on their way to achieving weekly gains for the second time in a row, following a larger-than-expected drop in oil inventories in the United States.
Brent crude futures fell 38 cents, or 0.5 percent, to $76.14, giving up earlier gains, and US West Texas Intermediate crude fell 50 cents, or 0.7 percent, to $71.30.
Both benchmarks are expected to rise by regarding 1 percent for the second week in a row.
However, “Brent” crude is still less than the high levels recorded in April by regarding ten dollars, and the price of a barrel has ranged between 71 and 79 dollars since early May, on the back of raising interest rates and weak data for the Chinese economy.
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