Saturday, September 18, 2021

Global crude Oil prices fall, but on track for weekly gain

Global crude Oil prices fell on Friday but remained on track to post weekly gains with demand growing faster than supply, while vaccinations are expected to alleviate the impact of a resurgence in COVID-19 infections across the globe. So, Brent crude futures for October shed 20 cents, to 74.90 dollars per barrel. US crude futures fell 20 cents, 73.42 dollars a barrel.

Meanwhile, a Reuters poll showed, oil prices will trade near 70 dollars per barrel for the rest of the year supported by the global economic recovery and a slower-than-expected return of Iranian supplies, with further gains limited by new coronavirus variants.

 

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