Brent and WTI Futures Headed for Weekly Loss on Concerns Over Reduced Fuel Demand
  • 7 months ago
Oil prices were stable on Friday but set for a weekly loss due to concerns about demand and Russia's partial lifting of its fuel export ban. Brent and WTI futures are expected to decline by approximately 12% and 9% respectively, driven by worries about global growth, reduced fuel demand, and the US budget deficit. However, the oil market is expected to remain tight in the short-term, attracting buyers. Investors are also watching the US jobs report and the European Central Bank's stance on interest rate hikes.
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