Reported 1 day ago
Crude oil prices fell on Friday after a significant rally earlier in the week, driven by increased sanctions from the US and EU on Russian energy. December WTI crude closed down 0.47%, influenced by concerns over a global oil supply glut and reduced Russian crude exports amid Ukraine's attacks on Russian infrastructure. Although the US plans to refill its Strategic Petroleum Reserve offered some support, worries about an impending oversupply persist, particularly with Iraq expected to boost oil production significantly.
Source: YAHOO