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Oil falls nearly 2% amid global economy concerns but ends week higher


  • Oil & Gas
  • Saturday, 12 Jan 2019

Brent crude futures dropped $1.2 to settle at $60.48 a barrel, a 1.95 percent loss. U.S. West Texas Intermediate (WTI) crude futures were down $1 to settle at $51.59 a barrel, or 1.9 percent.  Still, both benchmarks saw their second week of gains, with Brent rising about 6 percent and WTI up about 7.6 percent.

Brent crude futures dropped $1.2 to settle at $60.48 a barrel, a 1.95 percent loss. U.S. West Texas Intermediate (WTI) crude futures were down $1 to settle at $51.59 a barrel, or 1.9 percent. Still, both benchmarks saw their second week of gains, with Brent rising about 6 percent and WTI up about 7.6 percent.

NEW YORK: Oil prices fell nearly 2 percent on Friday as investors worried about a global economic slowdown, snapping a nine-day winning streak spurred by U.S.-China trade hopes, but clung to some gains from that rally to end the week higher.

Brent crude futures dropped $1.2 to settle at $60.48 a barrel, a 1.95 percent loss. U.S. West Texas Intermediate (WTI) crude futures were down $1 to settle at $51.59 a barrel, or 1.9 percent.

Oil & Gas , Markets

   

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