oil and gas — Oil Prices have continued to go up as crisis in Ukraine and Russia rages on Image: Financial Tribune

Oil Prices Rise Slightly After Days of Decline

Last updated May 5, 2023

Oil prices rose on Friday but were poised for a third straight week of losses after markets registered dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand.

Brent crude rose $1.22, or 1.7%, to $73.72 a barrel by 0754 GMT. U.S.

West Texas Intermediate was up $1.11, or 1.6%, at $69.67 after four days of declines that sent the contract to lows last seen in late 2021.

The Brent benchmark was on track to finish the week with a decline of about 7% while WTI was set for a 9% loss.

Reuters/Hauwa Abu

Decline oil prices