Oil Prices Increased After Losses of More Than 7% Last Week

  • International
  • 21 October 2024
1

Oil prices rose during trading on Monday, the twenty-first of October, after recording losses of more than 7% last week due to concern about demand in China and easing concerns about supplies from the Middle East.

On the trading front, Brent crude futures rose 0.6% to $73.47 a barrel. U.S. crude contracts rose 0.7% to $69.67 a barrel. Brent crude fell more than 7% last week, while WTI lost about 8%. It was the biggest weekly drop for crude since Sept. 2, due to slowing economic growth in China and a lower risk premium in the Middle East.

 

Source (CNBC Arabia Website, Edited)

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