Oil prices rise, record weekly losses

24/01/2025 Argaam

Oil prices steady, poised for weekly loss

Oil drilling rigs

Oil prices ended a four-week winning streak following US President Donald Trump’s call to lower energy prices and boost US production, amid economic data showing a slowdown in economic activity in the US.

 

Brent crude futures for March delivery rose 0.25%, or $0.21, to $78.5 per barrel.

The US West Texas Intermediate (WTI) crude futures for March delivery were unchanged at $74.66 per barrel.

 

Both contracts recorded weekly losses of 2.85% and 3.55%, respectively.

 

S&P Composite PMI index fell this month, recording a nine-month low. Meanwhile, consumer confidence declined in January for the first time in six months, with expectations of higher inflation in the short and long term.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read