Economic news

Oil firm, but on track for first weekly drop in six on extending oversupply

Crude prices were stable on Friday but on course for the first weekly drop in six weeks as rising U.S. supplies and growing concerns over Russian support for extending a cut in oil production weighed on market.

Brent crude futures lost 3 cents at $61.23 a barrel.

U.S. West Texas Intermediate (WTI) crude futures rose 22 cents to $55.36 per barrel. Traders said solid U.S. crude exports were boosting WTI.


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