Oil eased on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as investors weighed the impact of hurricane Milton on US demand against any broad supply disruption due to the developments in the Middle East. Brent crude oil futures fell 29 cents, or 0.4%, to $79.11 a barrel. US West Texas Intermediate crude futures dropped 21 cents, or 0.3%, to $75.64 per barrel. For the week, both benchmarks were headed for a 1%-2% gain. Investors are evaluating how hurricane damage might impact the US economy and fuel demand, as well as the developments in the Middle East. Source: Qatar News Agency
Related Posts
Financial Analyst to QNA: Interest Rate Cuts Boost QSE Gains
Supported by the decision to cut interest rates, the Qatar Stock Exchange (QSE) index ended the current week’s trading with an increase of 0.63 percent, gaining 65.83 points, compared to last week’s closing, to reach 10,464.15 points.
In remarks to Q…
Oil Prices Fall after Unexpectedly Rise in US Crude Inventories
Oil prices fell on Wednesday after a report showed that US crude inventories unexpectedly rose, while concerns about the impact of a possible widening conflict in the Middle East on production eased slightly.
Brent crude futures fell 41 cents, or 0.5…
Oil Futures Rebounds Over $1 after 7-Week Lows
Oil futures rebounded more than $1 a barrel from 7-week lows.
Brent crude futures climbed $1.17, or 1.5%, to $79.80 a barrel, while the more active October contract was at $79.18, up $1.11.
US West Texas Intermediate (WTI) crude futures rose $1.15, …