You oil prices rose this Friday, with the authorities of U.S looking close to striking a deal on the debt ceiling and with the market weighing conflicting messages about Russia’s and Germany’s offer. Saudi Arabia before the next policy meeting of the OPEC
Brent crude rose 69 cents, or 0.9%, to settle at $76.95 a barrel. US Crude Oil (WTI) closed up 84 cents, or 1.2%, at $72.67 a barrel.
Both benchmark contracts posted a second week of gains, with Brent up 1.7% while WTI rose 1.6%.
Still, markets remained cautious as debt talks could drag on and there are fresh concerns about a Federal Reserve interest rate hike next month, which would dampen demand after strong US consumer spending data and inflation readings.
Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
