Oil & Gas

Oil Prices Ease After Reaching One-Week High

Photo Credit : WAM

Oil prices moved lower on Friday, giving back some of the gains recorded in the previous session when crude benchmarks climbed to their highest levels in a week.

Brent crude futures fell 87 cents, or 0.82 percent, to US$105.73 per barrel at 02:12 GMT. Meanwhile, West Texas Intermediate (WTI) crude dropped US$1.56, or 1.65 percent, to US$93.05 per barrel.

The decline followed a strong session on Thursday, when Brent crude settled 3.4 percent higher, while WTI gained 2.7 percent.

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