Oil drilling rigs
Oil prices declined on Friday, but they are heading for their second straight weekly gain, supported by positive economic data and eased recession concerns.
Brent crude futures for October delivery fell 0.36%, or $0.29, to $80.75 a barrel, at 08:21 Makkah time.
Similarly, futures prices for US West Texas Intermediate (WTI) crude lost 0.46%, or $0.36, to $77.80 per barrel.
Both contracts rose more than 1% so far this week, driven by positive US economic data that boosted investor sentiment. In addition, the new round of Gaza ceasefire talks reduced the geopolitical risk premium on oil prices despite Israel’s ongoing attacks against Hamas.
https://www.argaam.com/en/article/articledetail/id/1748825
