Economic news

Oil keeps near the same, but earlier price swings lead to weekly decreases

Prices of oil stayed almost at one level today as preceding sharp fluctuations during the week have resulted in a weekly drop of both benchmarks again.

Photo: Reuters

Brent slid 20 cents to $74.25. Yesterday the uptick made up $1.05 per barrel, which followed the drop to $72.67 in the session. The result of the week is about to be registered at 4% decrease.

U.S. WTI gained 5 cents, moving up to $70.38, though it traded in Asia a bit lower most of the time.

This week’s result is nearing more than 4% fall. Recently traders acted in response to the re-emergence of oil from Libya in the market and to the trade war between U.S. and China.


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