Oil prices stabilized on Friday; posted solid monthly gains

01/09/2018 Argaam

 

Oil prices stabilized on Friday, as US crude stayed at a record high of $70 a barrel, amid worries about demand on the United States-China trade dispute, as the United States plan imposing more customs on Chinese goods.

 

Meanwhile, following a drop in the first half of August, prices bounced towards monthly gains.

 

At 8:47 am Makkah time, global benchmark Brent crude’s October futures stood at to $77.75 a barrel, posting a monthly rise of 4.6 percent, its highest gain since April.

 

West Texas Intermediate crude (WTI) on the New York Mercantile Exchange stood at $70.28 a barrel, with a 2.2 percent monthly gain.

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