Oil prices rose at the close in the last session of the week in Friday’s trading, but recorded their biggest weekly decline since November, as traders assessed potential improvements in the future outlook for supplies hampered by Russia’s invasion of Ukraine.
وارتفعت oil prices Crude since the invasion has been described by Moscow as a “special military operation”. Futures contracts reached their highest level since 2008, then fell sharply following some producing countries indicated that they might increase supply.
Concerns regarding supplies have grown following talks to revive the 2015 Iran nuclear deal risked unraveling following a last-minute Russian request forced world powers to halt negotiations.
Brent crude futures rose $3.34, or 3.1 percent, to settle at $112.67 a barrel, following hitting its lowest level during the session at $107.13, but fell by 4.6 percent in the week’s total.
US West Texas Intermediate crude futures rose $3.31, or 3.1%, to settle at $109.33 a barrel, while losses for the week recorded 5.5%.
