Oil prices gain on Middle East supply concerns

Economy
  • 30-08-2024, 11:34
    • +A -A

     
    INA-follow-up
     
    Oil prices rose on Friday as investors weighed supply concerns in Middle East, although signs of weakened demand, particularly in China, limited gains.
     
    Brent crude futures for October delivery , which expire on Friday, were up 39 cents, or 0.5%, at $80.33 a barrel by 0630 GMT. The more actively traded contract for November rose 34 cents, or 0.4%, to $79.16. 
    U.S. West Texas Intermediate crude futures gained 30 cents, or 0.4%, to $76.21.
    Both benchmarks settled more than $1 higher on Thursday on oil supply concerns, up 1.6% and 1.8% respectively for the week so far.
     
    Source: Reuters
     

Related news

High oil prices in world markets

  • Economy
  • 02:32

Oil prices increase in Asian trade, set for third weekly gain

  • Economy
  • 11:18

Oil rebounds from two days of losses in volatile trade

  • Economy
  • 12:08