Oil prices decline, set for second straight weekly drop

10:40 AM (Mecca time) Argaam
Oil drilling rigs

Oil drilling rigs

Oil prices fell in Friday trading and were set for a second straight weekly decline as market concerns over a potential US–Iran conflict disrupting supplies continued to ease.

 

April Brent crude futures slipped 0.15%, or 10 cents, to $67.42 a barrel at 09:23 am KSA time. Prices are on track to fall about 0.8% this week.

 

US WTI crude futures for March dropped 0.25%, or 15 cents, to $62.69 a barrel. Weekly losses are expected to exceed 1%.

 

Markets are awaiting later Friday data from Baker Hughes on the US oil and gas rig count for fresh signals on supply trends.

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