Reported about 2 months ago
Oil prices experienced slight declines in early Asian trading but are still on track for a second consecutive weekly gain, driven by positive economic data from the US that eased recession fears. Brent crude futures dropped to $80.88 per barrel, while West Texas Intermediate fell to $77.93 per barrel. The optimism stems from strong retail sales and a decrease in unemployment claims in the US, although market focus will now shift to geopolitical tensions and fundamental demand signals, especially with mixed indications from the US and China.
Source: YAHOO