22 Hrs
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المشهد
Oil Falls for Second Week
Oil prices are heading for a second straight weekly loss, with Brent crude at $95.41 a barrel and West Texas Intermediate down 20 cents to $88.52. Brent is expected to fall 2.4% this week after dropping 16% last week, while U.S. crude is set to lose 2.5% after declining 13%. Prices have been pressured by the continued U.S. blockade of Iran and a 4.7-million-barrel increase in U.S. crude inventories to 414.4 million barrels, while risks to oil shipments through the Strait of Hormuz remain.
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