Oil declines before the Christmas holidays

0
17
Oil declines before the Christmas holidays

Oil prices dropped ahead of the Christmas weekend due to Angola’s expected production increase after its exit from OPEC, but they rebounded throughout the week.

Brent crude futures dropped by 0.4% to settle at $79.07 per barrel, while US West Texas Intermediate crude fell by 0.5% to settle at $73.56.

This week, both benchmarks rose by approximately three percent, compared to less than one percent last week.