EnergyPre-market
Oil prices decline for second week amid sanctions and oversupply concerns
pre-market1 source ↓written by the desknot a recommendation
- despite
- $60 per barrel
- on Friday
- 0.5% rise
Oil prices experienced a second consecutive weekly loss, with West Texas Intermediate futures settling below $60 per barrel despite a 0.5% rise on Friday. The market is grappling with the impact of sanctions on Russian output and fears of an impending oversupply. The White House's sanctions on Russian crude have led to uncertainty regarding Lukoil's international assets, further complicating the landscape for traders.
Not investment advice. For informational purposes only.