Brent crude futures were down $2.37 to $82.77 a barrel by 1145 GMT, while West Texas Intermediate U.S. crude fell $2.07 to $76.42
Oil fell almost 3% on Friday and was on course for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply.
Brent crude futures were down $2.37, or 2.8%, to $82.77 a barrel by 1145 GMT, while West Texas Intermediate U.S. crude fell $2.07, or 2.6%, to $76.42.“Rate hike jitters have returned with a vengeance,” said Stephen Brennock of oil broker PVM.Russian oil producers expect to maintain current volumes of crude oil exports, despite the government’s plan to cut oil output in March, the Vedomosti newspaper said on Friday, citing sources familiar with companies’ plans.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eye-care company Bausch + Lomb to reportedly name Brent Saunders as CEOThe leadership change could be announced as soon as Wednesday, the Wall Street Journal reported, adding that Brent Saunders will take over on March 6 from Joseph Papa
Read more »
Vancouver Canadians bringing back North Delta’s Brent Lavallee as managerNorthwest League regular season opens April 7, with Toronto Blue Jays\u0027 high\u002DA affiliate club hosting Spokane Indians at Nat Bailey Stadium.
Read more »
Vancouver Canadians’ hometown boy Brent Lavallee ‘excited’ to be back managing clubNorth Delta native looks forward to being with ‘the crowd at the Nat every night and having my family and friends so close.’
Read more »
Oil and mining giant Glencore posts record profit for 2022Glencore said that it will pay out more than $7-billion to shareholders as it rode a spike in demand for oil and natural gas after Russia invaded Ukraine
Read more »
Gold, silver down as USDX rallies, crude oil weakensSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Read more »
Oil extends drop on large stockpile build and inflation concerns - BNN BloombergOil fell as an industry estimate pointed to another major build in American inventories and the dollar gained, with investors assessing the outlook for even tighter U.S. monetary policy to combat sticky inflation.
Read more »