Oil Prices Set For Worst Weekly Drop In Five Weeks
By Tsvetana Paraskova - Jul 05, 2019, 9:30 AM CDT
Join Our Community
Offshore
Concerns about weakening global economy and oil demand growth trumped simmering U.S.-Iran tensions and OPEC and allies’ rollover of the production cuts into 2020, sending oil prices early on Friday on course to book their largest weekly decline in five weeks.
As of 07:09 a.m. EDT on Friday, WTI Crude was down 0.66 percent at $56.96, while Brent Crude was up 0.58 percent at $63.67.