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Oil prices drop as demand worries linger

Other News Materials 26 November 2022 03:49 (UTC +04:00)
Oil prices drop as demand worries linger

Oil prices fell on Friday as concerns over a deteriorating demand outlook continued to weigh on the market, Trend reports citing Xinhua.

The West Texas Intermediate (WTI) for January delivery decreased 1.66 U.S. dollars, or 2.13 percent, to settle at 76.28 dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery lost 1.71 dollars, or 2 percent, to close at 83.63 dollars a barrel on the London ICE Futures Exchange.

For the week, the WTI dropped 4.78 percent, while Brent dipped 4.55 percent, based on the front-month contracts.

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