Saturday, October 23, 2021

Oil edges up to fresh 4-week highs as demand outlook improves

Oil prices on Friday edged up to fresh four-week highs on positive U.S. economic data as Brent prices climbed to trade beyond 67 dollars per barrel mark. Higher demand forecasts from the International Energy Agency (IEA) and OPEC also supported the crude prices to rise.

In intra-day trade, Brent crude prices were trading around 67 dollars and 20 cents per barrel while WTI crude prices were around 63 dollars and 70 per barrel.

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